Amphenol Corporation $APH Shares Purchased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. grew its position in Amphenol Corporation (NYSE:APH) by 115.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,056 shares of the electronics maker’s stock after purchasing an additional 37,028 shares during the period. Inspire Trust Co. N.A.’s holdings in Amphenol were worth $5,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacific Excel Wealth Advisors Inc. acquired a new stake in shares of Amphenol in the 2nd quarter worth approximately $1,927,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Amphenol by 111.0% in the third quarter. Chicago Partners Investment Group LLC now owns 29,268 shares of the electronics maker’s stock valued at $2,168,000 after acquiring an additional 15,394 shares in the last quarter. Evelyn Partners Investment Management Services Ltd increased its stake in shares of Amphenol by 132.7% during the first quarter. Evelyn Partners Investment Management Services Ltd now owns 45,599 shares of the electronics maker’s stock valued at $5,761,000 after acquiring an additional 26,000 shares during the period. Gabelli Funds LLC increased its stake in shares of Amphenol by 29.3% during the first quarter. Gabelli Funds LLC now owns 193,939 shares of the electronics maker’s stock valued at $24,504,000 after acquiring an additional 43,945 shares during the period. Finally, Allen Capital Group LLC raised its holdings in Amphenol by 1,118.7% during the first quarter. Allen Capital Group LLC now owns 39,681 shares of the electronics maker’s stock worth $5,014,000 after purchasing an additional 36,425 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Rothschild & Co Redburn cut their target price on Amphenol from $197.00 to $107.00 in a research report on Friday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $116.00 price target (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Barclays lifted their price target on Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Robert W. Baird dropped their price objective on Amphenol from $190.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Finally, Truist Financial upped their price objective on Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $108.32.

Amphenol Stock Performance

Shares of APH opened at $79.98 on Wednesday. The firm’s 50 day moving average is $81.34 and its 200-day moving average is $75.57. The stock has a market capitalization of $197.50 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. Amphenol Corporation has a 12-month low of $59.01 and a 12-month high of $89.93.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 65.1% on a year-over-year basis. Equities research analysts anticipate that Amphenol Corporation will post 2.83 EPS for the current fiscal year.

Amphenol Cuts Dividend

The business also recently declared 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 decrease from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s dividend payout ratio is currently 26.09%.

Amphenol declared that its Board of Directors has initiated a share buyback program on Wednesday, October 28th that authorizes the company to buy back $4 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

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.