Amphenol Corporation $APH Stock Bought by Buckhead Capital Management LLC

Buckhead Capital Management LLC raised its holdings in Amphenol Corporation (NYSE:APH) by 99.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,284 shares of the electronics maker’s stock after purchasing an additional 31,557 shares during the quarter. Amphenol accounts for 1.7% of Buckhead Capital Management LLC’s holdings, making the stock its 13th largest holding. Buckhead Capital Management LLC’s holdings in Amphenol were worth $5,335,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of APH. StoneX Group Inc. increased its position in shares of Amphenol by 86.2% during the third quarter. StoneX Group Inc. now owns 10,983 shares of the electronics maker’s stock valued at $927,000 after acquiring an additional 5,083 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Amphenol by 94.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,037,269 shares of the electronics maker’s stock valued at $87,442,000 after acquiring an additional 503,629 shares during the period. Leelyn Smith LLC lifted its holdings in shares of Amphenol by 102.7% in the 3rd quarter. Leelyn Smith LLC now owns 38,290 shares of the electronics maker’s stock worth $3,228,000 after acquiring an additional 19,396 shares during the last quarter. Allen Investment Management LLC lifted its holdings in shares of Amphenol by 100.0% in the 3rd quarter. Allen Investment Management LLC now owns 3,600 shares of the electronics maker’s stock worth $303,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Formidable Asset Management LLC acquired a new position in shares of Amphenol in the 3rd quarter worth approximately $538,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

APH has been the subject of several research reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $102.00 target price on shares of Amphenol in a report on Monday, November 2nd. Weiss Ratings lowered Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. TD Cowen decreased their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, September 9th. Evercore set a $100.00 price target on Amphenol in a research report on Wednesday, October 28th. Finally, Truist Financial lifted their price objective on Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $108.32.

Amphenol Stock Up 4.2%

Shares of NYSE:APH opened at $74.67 on Friday. The firm 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 Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. The firm’s 50-day moving average is $81.29 and its two-hundred day moving average is $75.53.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 EPS 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 business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 65.1% compared to the same quarter last year. Analysts predict that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders 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 is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Amphenol’s dividend payout ratio (DPR) is currently 21.74%.

Amphenol announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 28th that authorizes the company to buy back $4 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 2% of its shares through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the firm’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 value of $65,949,028.48. Following the completion of the transaction, the chief executive officer owned 3,855,014 shares of the company’s stock, valued at $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. 1.42% of the stock is currently owned by company insiders.

About Amphenol

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.