Ritholtz Wealth Management Buys 70,005 Shares of Amphenol Corporation $APH

Ritholtz Wealth Management boosted its stake in shares of Amphenol Corporation (NYSE:APH) by 206.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,847 shares of the electronics maker’s stock after acquiring an additional 70,005 shares during the quarter. Ritholtz Wealth Management’s holdings in Amphenol were worth $8,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LP boosted its holdings in shares of Amphenol by 3,010.0% in the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock worth $2,898,248,000 after purchasing an additional 15,908,901 shares during the period. State Street Corp increased its position in shares of Amphenol by 24.2% during the 2nd quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock valued at $12,107,146,000 after purchasing an additional 13,884,641 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Amphenol during the 2nd quarter valued at $1,600,531,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Amphenol by 90.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock valued at $666,051,000 after buying an additional 3,761,224 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Amphenol by 132.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,610,411 shares of the electronics maker’s stock valued at $309,304,000 after buying an additional 2,054,660 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 completion of the sale, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays lifted their price objective on shares of Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Rothschild & Co Redburn reduced their target price on shares of Amphenol from $197.00 to $107.00 in a research note on Friday, October 30th. Royal Bank Of Canada set a $100.00 target price on shares of Amphenol in a report on Monday, October 26th. Citigroup restated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Finally, Zacks Research raised shares of Amphenol from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. One 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, the company presently has an average rating of “Buy” and a consensus target price of $107.00.

Amphenol Trading Down 0.8%

Shares of NYSE APH opened at $79.32 on Thursday. Amphenol Corporation has a fifty-two week low of $59.01 and a fifty-two week 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. The company has a market cap of $195.85 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.95 and a beta of 1.27. The business’s 50 day moving average price is $81.30 and its 200-day moving average price is $75.59.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $10.23 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s revenue was up 65.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. On average, sell-side analysts expect that Amphenol Corporation will post 2.83 earnings per share for the current year.

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

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio is 21.74%.

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.