Amphenol Corporation $APH Stock Acquired by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC grew its stake in Amphenol Corporation (NYSE:APH) by 107.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,609 shares of the electronics maker’s stock after acquiring an additional 9,119 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Amphenol were worth $1,484,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Amphenol by 24.2% in 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 acquiring an additional 13,884,641 shares in the last quarter. Wellington Management Group LLP grew its stake in Amphenol by 10.5% during the 2nd quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock valued at $2,923,371,000 after purchasing an additional 1,578,248 shares during the last quarter. Corient Private Wealth LP increased 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 buying an additional 15,908,901 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amphenol by 4.5% during the second 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 purchasing an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of Amphenol in the 2nd quarter valued at about $1,600,531,000. 97.01% of the stock is owned by institutional investors.

Insider Activity

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

Amphenol Stock Performance

NYSE:APH opened at $80.89 on Tuesday. Amphenol Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $89.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. The company has a 50 day moving average price of $81.33 and a 200 day moving average price of $75.55. The stock has a market capitalization of $199.74 billion, a P/E ratio of 35.17, a PEG 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $10.23 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Equities research analysts forecast 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 permits the company to buy back $4 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 2% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Amphenol Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be paid a $0.15 dividend. The ex-dividend date is Tuesday, December 22nd. 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 0.7%. Amphenol’s payout ratio is 21.74%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Rothschild & Co Redburn decreased their target price on Amphenol from $197.00 to $107.00 in a research report on Friday, October 30th. Truist Financial upped their target price on shares of Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Evercore set a $100.00 target price on shares of Amphenol in a research report on Wednesday, October 28th. Finally, BNP Paribas Exane increased their price target on Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $108.32.

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.