Amphenol Corporation $APH Stock: Kornitzer Capital Management Inc. KS Trims Stake

Kornitzer Capital Management Inc. KS trimmed its position in shares of Amphenol Corporation (NYSE:APH) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,171 shares of the electronics maker’s stock after selling 6,527 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Amphenol were worth $1,785,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Purus Wealth Management LLC lifted its position in Amphenol by 3.7% during the second quarter. Purus Wealth Management LLC now owns 1,801 shares of the electronics maker’s stock valued at $318,000 after acquiring an additional 65 shares during the last quarter. Cornerstone Financial Management LLC grew its holdings in Amphenol by 27.2% in 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 last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in Amphenol by 3.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,980 shares of the electronics maker’s stock worth $250,000 after purchasing an additional 72 shares during the last quarter. Guardian Wealth Advisors LLC NC grew its holdings in Amphenol by 0.5% in the second quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker’s stock worth $2,506,000 after purchasing an additional 72 shares during the last quarter. Finally, Knuff & Co LLC increased its position in shares of Amphenol by 1.3% during the second quarter. Knuff & Co LLC now owns 5,675 shares of the electronics maker’s stock worth $1,001,000 after purchasing an additional 75 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Transactions at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was 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 in the company, valued at $317,961,554.72. This trade represents a 17.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on APH shares. The Goldman Sachs Group reiterated a “buy” rating and set a $116.00 price objective (up from $102.00) on shares of Amphenol in a report on Tuesday, October 6th. Citigroup restated a “buy” rating and set a $115.00 target price (up from $112.00) on shares of Amphenol in a research note on Thursday, October 29th. Zacks Research raised Amphenol from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Erste Group Bank initiated coverage on Amphenol in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. Finally, BNP Paribas Exane increased their price target on Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. 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 stock presently has a consensus rating of “Buy” and a consensus price target of $108.32.

Amphenol Stock Up 8.4%

NYSE:APH opened at $80.89 on Tuesday. The company has a market cap of $199.74 billion, a PE ratio of 35.17, a P/E/G ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a twelve month low of $59.01 and a twelve month high of $89.93. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $81.33 and its two-hundred day moving average is $75.55.

Amphenol (NYSE:APH) last issued its quarterly earnings results 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. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Amphenol’s revenue for the quarter was up 65.1% compared to the same quarter last year. Analysts anticipate that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 2% of its shares through open market purchases. Share repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. 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 payout ratio is currently 21.74%.

Amphenol Company 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.