Amphenol Corporation $APH Stock: Monte Financial Group LLC Boosts Stake

Monte Financial Group LLC boosted its position in Amphenol Corporation (NYSE:APH) by 98.7% during the third quarter, Holdings Channel reports. The institutional investor owned 19,876 shares of the electronics maker’s stock after purchasing an additional 9,874 shares during the quarter. Monte Financial Group LLC’s holdings in Amphenol were worth $1,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pacific Excel Wealth Advisors Inc. bought a new stake in shares of Amphenol in the second quarter worth $1,927,000. Evelyn Partners Investment Management Services Ltd grew its position in Amphenol by 132.7% in the first quarter. Evelyn Partners Investment Management Services Ltd now owns 45,599 shares of the electronics maker’s stock valued at $5,761,000 after purchasing an additional 26,000 shares in the last quarter. Gabelli Funds LLC grew its position in Amphenol by 29.3% in the first quarter. Gabelli Funds LLC now owns 193,939 shares of the electronics maker’s stock valued at $24,504,000 after purchasing an additional 43,945 shares in the last quarter. Allen Capital Group LLC grew its position in Amphenol by 1,118.7% in the first quarter. Allen Capital Group LLC now owns 39,681 shares of the electronics maker’s stock valued at $5,014,000 after purchasing an additional 36,425 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Amphenol in the 1st quarter valued at $5,637,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analysts Set New Price Targets

APH has been the topic of several analyst reports. Royal Bank Of Canada set a $100.00 price target on shares of Amphenol in a research report on Monday, October 26th. Citigroup restated 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. UBS Group raised their price objective on Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Weiss Ratings downgraded Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Robert W. Baird dropped their target price on Amphenol from $190.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $108.32.

Amphenol Trading Down 9.2%

NYSE APH opened at $71.73 on Friday. The company has a market cap of $177.13 billion, a PE ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93. The stock has a 50 day moving average of $81.42 and a 200-day moving average of $75.54.

Amphenol (NYSE:APH) last released its 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 business 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 firm’s revenue was up 65.1% on a year-over-year basis. During the same period last year, the business earned $0.93 earnings per share. On average, equities research analysts anticipate that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders 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. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Amphenol’s payout ratio is 21.74%.

Amphenol declared that its board has approved a share repurchase program on Wednesday, October 28th that allows the company to repurchase $4 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 2% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Amphenol

In other 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 transaction 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 Securities & Exchange Commission, which is available at this link. 1.42% of the stock is owned by corporate insiders.

Amphenol 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.