Amphenol (NYSE:APH) CEO Richard Adam Norwitt Sells 799,576 Shares of Company Stock

Amphenol Corporation (NYSE:APH) CEO Richard Norwitt sold 799,576 shares of the business’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 in the company, valued at approximately $317,961,554.72. This trade represents a 17.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Amphenol Stock Up 5.3%

Shares of NYSE APH traded up $4.27 on Tuesday, reaching $84.11. 15,385,549 shares of the company’s stock traded hands, compared to its average volume of 17,099,953. The business’s 50 day simple moving average is $81.48 and its two-hundred day simple moving average is $75.50. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93. The company has a quick ratio of 1.41, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The company has a market cap of $207.41 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23.

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. The company 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 firm’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, equities research analysts forecast that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

Amphenol announced that its Board of Directors has approved a share repurchase program on Wednesday, October 28th that authorizes the company to repurchase $4 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 2% of its shares through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a drop from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s payout ratio is 21.74%.

Analyst Ratings Changes

APH has been the topic of a number of research reports. JPMorgan Chase & Co. raised 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. Weiss Ratings downgraded Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Truist Financial raised their target price on Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. The Goldman Sachs Group restated a “buy” rating and set a $116.00 price target (up from $102.00) on shares of Amphenol in a research note on Tuesday, October 6th. Finally, UBS Group upped their price target on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. One equities research 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. According to MarketBeat.com, Amphenol presently has an average rating of “Buy” and a consensus price target of $108.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vaquero Private Wealth Ltd. purchased a new position in shares of Amphenol during the 2nd quarter valued at approximately $32,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Amphenol by 85.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock worth $25,000 after buying an additional 91 shares in the last quarter. Tompkins Financial Corp grew its position in Amphenol by 81.9% during the second quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker’s stock valued at $37,000 after buying an additional 95 shares during the period. Wilkerson Advisory Group LLC grew its position in Amphenol by 57.4% during the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock valued at $29,000 after buying an additional 85 shares during the period. Finally, Valued Wealth Advisors LLC increased its holdings in Amphenol by 53.9% in the first quarter. Valued Wealth Advisors LLC now owns 234 shares of the electronics maker’s stock valued at $30,000 after buying an additional 82 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Amphenol Company Profile

Amphenol Corporation (NYSE: APH) is a global manufacturer of electrical, electronic and fiber-optic connectors, interconnect systems and related products. Its portfolio includes cable assemblies, sensors, antennas, backplane systems, radio-frequency components and other specialized electronic hardware.

The company serves customers across a range of industries, including automotive, aerospace and defense, information technology and data communications, industrial, mobile networks, commercial aerospace, medical and other markets.