Amphenol Corporation $APH Shares Purchased by Buckhead Capital Management LLC

Buckhead Capital Management LLC boosted its stake in Amphenol Corporation (NYSE:APH) by 99.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,284 shares of the electronics maker’s stock after buying an additional 31,557 shares during the quarter. Amphenol makes up approximately 1.7% of Buckhead Capital Management LLC’s portfolio, making the stock its 13th largest holding. Buckhead Capital Management LLC’s holdings in Amphenol were worth $5,335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. StoneX Group Inc. raised its stake in Amphenol by 86.2% in the 3rd quarter. StoneX Group Inc. now owns 10,983 shares of the electronics maker’s stock valued at $927,000 after purchasing an additional 5,083 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Amphenol by 94.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,037,269 shares of the electronics maker’s stock worth $87,442,000 after purchasing an additional 503,629 shares during the last quarter. Leelyn Smith LLC boosted its stake in Amphenol by 102.7% during the 3rd quarter. Leelyn Smith LLC now owns 38,290 shares of the electronics maker’s stock worth $3,228,000 after purchasing an additional 19,396 shares during the last quarter. Allen Investment Management LLC grew its holdings in shares of Amphenol by 100.0% during the third quarter. Allen Investment Management LLC now owns 3,600 shares of the electronics maker’s stock worth $303,000 after buying an additional 1,800 shares in the last quarter. Finally, Formidable Asset Management LLC purchased a new stake in shares of Amphenol during the third quarter worth $538,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APH. Robert W. Baird reduced their target price on shares of Amphenol from $190.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, October 6th. Weiss Ratings lowered shares of Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Zacks Research raised shares of Amphenol from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Citigroup reiterated a “buy” rating and issued a $115.00 price objective (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Finally, Evercore set a $100.00 target price on shares of Amphenol in a research note on Wednesday, October 28th. One research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $108.32.

Amphenol Stock Up 4.2%

Shares of APH opened at $74.67 on Friday. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $81.29 and a two-hundred day simple moving average of $75.53. The company has a market capitalization of $184.39 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share 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 firm had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The company’s revenue was up 65.1% compared to the same quarter last year. As a group, equities analysts forecast that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. 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. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s payout ratio is presently 21.74%.

Amphenol announced that its Board of Directors has initiated a share buyback program on Wednesday, October 28th that permits the company to repurchase $4 billion in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $82.48, for a total value of $65,949,028.48. Following the transaction, the chief executive officer directly owned 3,855,014 shares in the company, valued at $317,961,554.72. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.42% of the stock is owned by company insiders.

Amphenol Company 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.