Amphenol Corporation $APH Shares Purchased by Renasant Bank

Renasant Bank increased its holdings in shares of Amphenol Corporation (NYSE:APH) by 93.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,865 shares of the electronics maker’s stock after acquiring an additional 9,611 shares during the period. Amphenol comprises approximately 1.1% of Renasant Bank’s portfolio, making the stock its 27th biggest holding. Renasant Bank’s holdings in Amphenol were worth $1,675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Amphenol by 24.2% in the 2nd quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after purchasing an additional 13,884,641 shares during the period. Wellington Management Group LLP raised its position in shares of Amphenol by 10.5% during the second quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock valued at $2,923,371,000 after buying an additional 1,578,248 shares during the last quarter. Corient Private Wealth LP raised its position in shares of Amphenol by 3,010.0% during the second quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock valued at $2,898,248,000 after buying an additional 15,908,901 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amphenol by 4.5% in 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 buying an additional 416,388 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Amphenol in the second quarter worth $1,600,531,000. Institutional investors own 97.01% of the company’s stock.

Amphenol Stock Performance

NYSE:APH opened at $79.98 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The stock’s 50 day simple moving average is $81.34 and its two-hundred day simple moving average is $75.57. The company has a market cap of $197.50 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 0.96 and a beta of 1.27.

Amphenol (NYSE:APH) last issued its quarterly earnings data 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 business had revenue of $10.23 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.93 EPS. As a group, equities 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 approved a share buyback plan on Wednesday, October 28th that allows the company to repurchase $4 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 2% of its stock through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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 given a $0.15 dividend. This is a drop from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio (DPR) is presently 26.09%.

Insider Transactions at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APH shares. Bank of America upped their target price on shares of Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Weiss Ratings upgraded shares of Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Barclays boosted their price target on shares of Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Royal Bank Of Canada set a $100.00 price target on shares of Amphenol in a research note on Monday, October 26th. Finally, UBS Group increased their price objective on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.