Amphenol Corporation $APH Stock: Mawer Investment Management Ltd. Grows Holdings

Mawer Investment Management Ltd. lifted its stake in Amphenol Corporation (NYSE:APH) by 76.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,167,736 shares of the electronics maker’s stock after purchasing an additional 1,809,451 shares during the quarter. Amphenol accounts for approximately 2.6% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 10th largest holding. Mawer Investment Management Ltd.’s holdings in Amphenol were worth $351,340,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Corient Private Wealth LP increased its stake in 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 acquiring an additional 15,908,901 shares during the period. State Street Corp lifted its position in shares of Amphenol by 24.2% during 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 acquiring an additional 13,884,641 shares during the period. Jupiter Topco LLC bought a new stake in shares of Amphenol during the 2nd quarter valued at $1,600,531,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 valued at $666,051,000 after acquiring an additional 3,761,224 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Amphenol by 116.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,465,041 shares of the electronics maker’s stock worth $376,413,000 after purchasing an additional 2,401,550 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APH. Citigroup restated a “buy” rating and issued a $115.00 price target (up from $112.00) on shares of Amphenol in a research report on Thursday, October 29th. Wolfe Research initiated coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 price objective for the company. Truist Financial increased their price objective on shares of Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. UBS Group increased their price objective on shares of Amphenol from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Rothschild & Co Redburn decreased their target price on shares of Amphenol from $197.00 to $107.00 in a report on Friday, October 30th. One investment 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 MarketBeat, the company has an average rating of “Buy” and a consensus target price of $107.00.

Insider Transactions at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 3,855,014 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Amphenol Price Performance

Amphenol stock traded down $1.47 during midday trading on Friday, reaching $78.15. The company’s stock had a trading volume of 9,580,870 shares, compared to its average volume of 15,824,595. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. The stock has a market cap of $192.98 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. Amphenol Corporation has a 52 week low of $59.01 and a 52 week high of $89.93. The business has a 50-day moving average price of $81.22 and a 200-day moving average price of $75.57.

Amphenol (NYSE:APH) last posted its earnings results 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 analysts’ expectations of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business’s revenue for the quarter was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, 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 issued a dividend of $0.15 per share. This is a drop from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. Amphenol’s payout ratio is presently 21.74%.

Amphenol announced that its board has authorized a share repurchase program on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 2% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.