Amphenol Corporation $APH Stock Bought by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in shares of Amphenol Corporation (NYSE:APH) by 114.3% during the third quarter, Holdings Channel reports. The fund owned 367,077 shares of the electronics maker’s stock after buying an additional 195,748 shares during the period. New York Life Investment Management LLC’s holdings in Amphenol were worth $30,945,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vaquero Private Wealth Ltd. purchased a new stake in shares of Amphenol in the 2nd quarter valued at $32,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Amphenol by 85.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Tompkins Financial Corp raised its position in Amphenol by 81.9% in the 2nd quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 95 shares during the period. Wilkerson Advisory Group LLC raised its position in Amphenol by 57.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 85 shares during the period. Finally, Elevation Wealth Partners LLC raised its position in Amphenol by 54.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 85 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Price Performance

Shares of Amphenol stock opened at $79.98 on Wednesday. The company’s fifty day simple moving average is $81.34 and its two-hundred day simple moving average is $75.57. Amphenol Corporation has a 12-month low of $59.01 and a 12-month high of $89.93. The firm has a market cap of $197.50 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. The firm had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The company’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities analysts expect that Amphenol Corporation will post 2.83 EPS for the current year.

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s dividend payout ratio (DPR) is presently 26.09%.

Amphenol declared that its board has initiated a stock buyback plan on Wednesday, October 28th that allows the company to buy back $4 billion in shares. This buyback authorization allows the electronics maker to purchase up to 2% of its shares through open market purchases. Share buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Erste Group Bank started coverage on Amphenol in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on Amphenol from $107.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $102.00 price target on shares of Amphenol in a research note on Monday, November 2nd. Finally, UBS Group boosted their price objective on Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $108.32.

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 transaction, the chief executive officer 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 document filed with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by corporate insiders.

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.