Amphenol Corporation $APH Shares Purchased by BankPlus Trust Department

BankPlus Trust Department boosted its position in Amphenol Corporation (NYSE:APH) by 113.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,035 shares of the electronics maker’s stock after purchasing an additional 9,037 shares during the quarter. BankPlus Trust Department’s holdings in Amphenol were worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Purus Wealth Management LLC increased its position in shares of Amphenol by 3.7% during the second quarter. Purus Wealth Management LLC now owns 1,801 shares of the electronics maker’s stock worth $318,000 after purchasing an additional 65 shares in the last quarter. Cornerstone Financial Management LLC lifted its holdings in shares of Amphenol by 27.2% during the second quarter. Cornerstone Financial Management LLC now owns 304 shares of the electronics maker’s stock worth $54,000 after purchasing an additional 65 shares during the period. Guardian Wealth Advisors LLC NC increased its holdings in Amphenol by 0.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker’s stock worth $2,506,000 after buying an additional 72 shares during the period. Knuff & Co LLC increased its holdings in Amphenol by 1.3% in the 2nd quarter. Knuff & Co LLC now owns 5,675 shares of the electronics maker’s stock worth $1,001,000 after buying an additional 75 shares during the period. Finally, Wilkerson Advisory Group LLC increased its stake in shares of Amphenol by 57.4% in the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 85 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Evercore set a $100.00 price objective on Amphenol in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Royal Bank Of Canada set a $100.00 target price on shares of Amphenol in a report on Monday, October 26th. Finally, Erste Group Bank initiated coverage on Amphenol in a research note on Wednesday, October 21st. They set a “buy” rating for the company. One research 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $107.00.

Insider Buying and Selling

In related news, CEO Richard Norwitt sold 799,576 shares of the 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 completion of the sale, the chief executive officer owned 3,855,014 shares in the company, valued at $317,961,554.72. This represents a 17.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is currently owned by company insiders.

Amphenol Stock Performance

Shares of APH stock opened at $78.15 on Friday. The stock’s 50-day moving average is $81.22 and its two-hundred day moving average is $75.57. The firm has a market cap of $192.98 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 0.95 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 quick ratio of 1.42 and a current ratio of 1.94.

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. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The business’s revenue was up 65.1% compared to the same quarter last year. Analysts predict that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s dividend payout ratio is presently 21.74%.

Amphenol declared that its board has initiated a share buyback 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 reacquire up to 2% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s board believes its shares are undervalued.

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.