Amphenol Corporation $APH Stock: Bahl & Gaynor LLC Raises Position

Bahl & Gaynor LLC boosted its position in shares of Amphenol Corporation (NYSE:APH) by 115.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,734,853 shares of the electronics maker’s stock after acquiring an additional 927,799 shares during the period. Bahl & Gaynor LLC’s holdings in Amphenol were worth $146,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its position in shares of Amphenol by 3,010.0% during 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 last quarter. State Street Corp grew its position in shares of Amphenol by 24.2% in the 2nd 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. Jupiter Topco LLC acquired a new stake in Amphenol during the 2nd quarter worth $1,600,531,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Amphenol by 90.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock worth $666,051,000 after acquiring an additional 3,761,224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Amphenol by 132.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,610,411 shares of the electronics maker’s stock worth $309,304,000 after acquiring an additional 2,054,660 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APH shares. BNP Paribas Exane upped their price objective on shares of Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Truist Financial lifted their target price on Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Barclays boosted their target price on Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. TD Cowen decreased their target price on Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, September 9th. Finally, Royal Bank Of Canada set a $100.00 price target on Amphenol in a research note on Monday, October 26th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $108.32.

Amphenol Stock Down 0.9%

Shares of NYSE:APH opened at $79.98 on Wednesday. Amphenol Corporation has a 1-year low of $59.01 and a 1-year high of $89.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. The stock has a market cap of $197.50 billion, a P/E ratio of 32.41, a P/E/G ratio of 0.96 and a beta of 1.27. The firm has a fifty day moving average price of $81.34 and a 200 day moving average price of $75.57.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.49 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The business’s revenue was up 65.1% compared to the same quarter last year. Sell-side analysts predict that Amphenol Corporation will post 2.83 EPS for the current year.

Amphenol Cuts Dividend

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

Amphenol declared that its board has initiated a share buyback 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 reacquire up to 2% of its shares through open market purchases. Share repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Amphenol

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

About Amphenol

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.