Amphenol Corporation $APH Stock Holdings Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its stake in Amphenol Corporation (NYSE:APH) by 129.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,225 shares of the electronics maker’s stock after purchasing an additional 84,642 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Amphenol were worth $12,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corient Private Wealth LP boosted 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 purchasing an additional 15,908,901 shares in the last quarter. State Street Corp increased its position in 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 in the last quarter. Jupiter Topco LLC bought a new stake in Amphenol in the 2nd quarter valued at about $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 buying an additional 3,761,224 shares during the period. 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 buying an additional 2,054,660 shares during the period. 97.01% of the stock is owned by institutional investors.

Amphenol Price Performance

Shares of NYSE APH opened at $79.32 on Thursday. The stock has a market cap of $195.85 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. Amphenol Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $89.93. The firm’s 50-day simple moving average is $81.30 and its 200 day simple moving average is $75.59.

Amphenol (NYSE:APH) last issued its quarterly earnings data 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 firm had revenue of $10.23 billion during 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%. The company’s revenue for the quarter was up 65.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. As a group, research analysts anticipate that Amphenol Corporation will post 2.83 earnings per share for the current fiscal year.

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

Amphenol Cuts Dividend

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

Insider Activity

In related news, CEO Richard Norwitt sold 799,576 shares of the company’s 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APH. Wall Street Zen upgraded Amphenol from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group restated a “buy” rating and set a $116.00 price objective (up from $102.00) on shares of Amphenol in a report on Tuesday, October 6th. Evercore set a $100.00 target price on Amphenol in a research report on Wednesday, October 28th. TD Cowen cut their target price on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, September 9th. Finally, Wolfe Research initiated coverage on shares of Amphenol in a research report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price target for the company. One investment 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’s stock. According to MarketBeat, Amphenol has an average rating of “Buy” and a consensus target price of $107.00.

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.