Amphenol Corporation $APH Stock Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Amphenol Corporation (NYSE:APH) by 94.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,037,269 shares of the electronics maker’s stock after acquiring an additional 503,629 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Amphenol were worth $87,442,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Leelyn Smith LLC lifted its holdings in shares of Amphenol by 102.7% during the third quarter. Leelyn Smith LLC now owns 38,290 shares of the electronics maker’s stock valued at $3,228,000 after acquiring an additional 19,396 shares during the period. Allen Investment Management LLC boosted its holdings in Amphenol by 100.0% during the third quarter. Allen Investment Management LLC now owns 3,600 shares of the electronics maker’s stock worth $303,000 after buying an additional 1,800 shares during the last quarter. Formidable Asset Management LLC acquired a new position in shares of Amphenol during the 3rd quarter worth about $538,000. Palisade Asset Management LLC grew its position in shares of Amphenol by 100.1% during the 3rd quarter. Palisade Asset Management LLC now owns 76,888 shares of the electronics maker’s stock worth $6,482,000 after buying an additional 38,469 shares during the period. Finally, Verus Capital Partners LLC grew its position in shares of Amphenol by 97.2% during the 3rd quarter. Verus Capital Partners LLC now owns 2,500 shares of the electronics maker’s stock worth $211,000 after buying an additional 1,232 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BNP Paribas Exane increased their price target on shares of Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. UBS Group boosted their price objective on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Royal Bank Of Canada set a $100.00 target price on shares of Amphenol in a research note on Monday, October 26th. Wall Street Zen upgraded shares of Amphenol from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Evercore set a $100.00 price target on shares of Amphenol in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Amphenol has an average rating of “Buy” and a consensus price target of $108.32.

Insiders Place Their Bets

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of Amphenol 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 transaction, the chief executive officer owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.42% of the company’s stock.

Amphenol Stock Up 8.4%

Shares of Amphenol stock opened at $80.89 on Tuesday. The company has a market capitalization of $199.74 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. 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 business has a 50-day moving average of $81.33 and a two-hundred day moving average of $75.55. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93.

Amphenol (NYSE:APH) last released its quarterly earnings data 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. 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 business posted $0.93 EPS. Amphenol’s revenue for the quarter was up 65.1% on a year-over-year basis. As a group, equities analysts predict that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol Cuts Dividend

The business 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 decrease from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. This represents a $0.60 annualized dividend and a yield of 0.7%. Amphenol’s dividend payout ratio is 21.74%.

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

Founded in 1932, Amphenol has grown into a global manufacturer serving customers across the Americas, Europe and Asia.