Amphenol Corporation $APH Stock: Mesirow Financial Investment Management Inc. Raises Holdings

Mesirow Financial Investment Management Inc. lifted its position in shares of Amphenol Corporation (NYSE:APH) by 122.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,054 shares of the electronics maker’s stock after purchasing an additional 38,030 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Amphenol were worth $5,821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Corient Private Wealth LP increased its position in shares of Amphenol by 3,010.0% in the second 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 lifted its position in Amphenol by 24.2% during the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after purchasing an additional 13,884,641 shares during the period. Jupiter Topco LLC bought a new stake in Amphenol during the second quarter worth about $1,600,531,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Amphenol by 90.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock worth $666,051,000 after buying an additional 3,761,224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Amphenol by 132.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,610,411 shares of the electronics maker’s stock worth $309,304,000 after buying an additional 2,054,660 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Insider Activity

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

Amphenol Stock Performance

Amphenol stock opened at $79.98 on Wednesday. The business has a 50 day moving average of $81.34 and a 200-day moving average of $75.57. 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 company has a market capitalization of $197.50 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.96 and a beta of 1.27.

Amphenol (NYSE:APH) last issued its quarterly 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. The company had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. 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 earnings per share. On average, equities research analysts predict that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol announced that its board has authorized a stock repurchase plan on Wednesday, October 28th that authorizes the company to repurchase $4 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Amphenol Cuts Dividend

The company also recently declared 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 represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, December 22nd. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s dividend payout ratio (DPR) is 26.09%.

Analyst Ratings Changes

APH has been the subject of several analyst reports. UBS Group boosted their target price on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $116.00 price target (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Truist Financial lifted their price objective on shares of Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Wolfe Research assumed coverage on shares of Amphenol in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Citigroup restated a “buy” rating and set a $115.00 price objective (up from $112.00) on shares of Amphenol in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $108.32.

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.