Amphenol Corporation $APH Shares Purchased by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC boosted its position in shares of Amphenol Corporation (NYSE:APH) by 92.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 39,409 shares of the electronics maker’s stock after purchasing an additional 18,937 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Amphenol were worth $3,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Amphenol by 24.2% during the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock valued at $12,107,146,000 after buying an additional 13,884,641 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Amphenol by 10.5% during the second quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock valued at $2,923,371,000 after acquiring an additional 1,578,248 shares in the last quarter. Corient Private Wealth LP raised its holdings in Amphenol by 3,010.0% in the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock worth $2,898,248,000 after acquiring an additional 15,908,901 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Amphenol by 4.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,703,604 shares of the electronics maker’s stock worth $1,710,939,000 after acquiring an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in Amphenol in the 2nd quarter worth approximately $1,600,531,000. 97.01% of the stock is currently owned by institutional investors.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the completion of the sale, the chief executive officer directly owned 3,855,014 shares in the company, valued at $317,961,554.72. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

APH has been the topic of several recent analyst reports. Erste Group Bank initiated coverage on Amphenol in a research note on Wednesday, October 21st. They set a “buy” rating on the stock. Truist Financial upped their price target on Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Bank of America upped their price target on Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. JPMorgan Chase & Co. increased their price objective on Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Finally, Zacks Research upgraded Amphenol from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Amphenol presently has a consensus rating of “Buy” and a consensus price target of $108.32.

Amphenol Stock Down 9.2%

Shares of Amphenol stock opened at $71.73 on Friday. Amphenol Corporation has a twelve month low of $59.01 and a twelve month high of $89.93. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $81.42 and its 200 day moving average is $75.54. The company has a market cap of $177.13 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The firm’s revenue was up 65.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. Research analysts anticipate that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol announced that its Board of Directors has approved a share buyback plan on Wednesday, October 28th that allows the company to repurchase $4 billion in shares. This buyback authorization allows the electronics maker to buy up to 2% of its shares through open market purchases. Share buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be issued a $0.15 dividend. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s dividend payout ratio is currently 21.74%.

Amphenol Profile

Amphenol Corporation (NYSE: APH) is a global manufacturer of electrical, electronic and fiber-optic connectors, interconnect systems and related products. Its portfolio includes cable assemblies, sensors, antennas, backplane systems, radio-frequency components and other specialized electronic hardware.

The company serves customers across a range of industries, including automotive, aerospace and defense, information technology and data communications, industrial, mobile networks, commercial aerospace, medical and other markets.