Amphenol Corporation $APH Shares Bought by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC increased its holdings in Amphenol Corporation (NYSE:APH) by 95.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,911 shares of the electronics maker’s stock after purchasing an additional 6,779 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Amphenol were worth $1,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its stake 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 holdings in shares of Amphenol by 10.5% in the second quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock worth $2,923,371,000 after buying an additional 1,578,248 shares during the period. Corient Private Wealth LP lifted its stake in shares of 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 valued at $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 lifted its stake in shares of 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 valued at $1,710,939,000 after acquiring an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in Amphenol during the 2nd quarter valued at about $1,600,531,000. 97.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

APH has been the topic of several recent research reports. TD Cowen reduced their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, September 9th. Wolfe Research began coverage on Amphenol in a research report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price objective for the company. UBS Group increased their price objective on Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Erste Group Bank began coverage on shares of Amphenol in a report on Wednesday, October 21st. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of Amphenol from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $108.32.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.42% of the company’s stock.

Amphenol Trading Up 4.2%

Shares of Amphenol stock traded up $3.04 during trading on Friday, reaching $74.67. 17,223,336 shares of the stock were exchanged, compared to its average volume of 12,732,441. 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 firm has a market cap of $184.39 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The stock’s fifty day moving average is $81.29 and its 200 day moving average is $75.53.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s revenue was up 65.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, equities research analysts expect that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s payout ratio is presently 21.74%.

Amphenol announced that its board has authorized a stock repurchase plan on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 2% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Amphenol Profile

Amphenol Corporation designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems, antennas and sensor products. Its offerings also include cable assemblies and related components used to transmit signals and power in electronic equipment and systems.

The company serves customers in a range of markets, including communications and information technology, automotive, aerospace and defense, industrial, mobile devices and data networks. Its products are used in applications such as vehicles, communications infrastructure, commercial aircraft and industrial equipment.

Founded in 1932, Amphenol has grown into a global manufacturer serving customers across the Americas, Europe and Asia.