Amphenol Corporation $APH Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its stake in Amphenol Corporation (NYSE:APH) by 114.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,077 shares of the electronics maker’s stock after purchasing an additional 195,748 shares during the quarter. New York Life Investment Management LLC’s holdings in Amphenol were worth $30,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd grew its holdings in Amphenol by 85.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock worth $25,000 after buying an additional 91 shares in the last quarter. Your Advocates Ltd. LLP raised its position in Amphenol by 100.0% in the 3rd quarter. Your Advocates Ltd. LLP now owns 300 shares of the electronics maker’s stock valued at $25,000 after buying an additional 150 shares during the last quarter. Retirement Wealth Solutions LLC raised its position in Amphenol by 831.2% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker’s stock valued at $26,000 after buying an additional 266 shares during the last quarter. Sunrise Financial Services LLC lifted its stake in Amphenol by 100.0% during the 3rd quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Finally, NFSG Corp bought a new position in Amphenol during the 3rd quarter valued at $28,000. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APH. Barclays lifted their price objective on shares of Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. JPMorgan Chase & Co. increased their target price on shares of Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Erste Group Bank started coverage on shares of Amphenol in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. The Goldman Sachs Group reissued 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. Finally, Evercore set a $100.00 price target on shares of Amphenol in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $108.32.

Amphenol Price Performance

Shares of NYSE:APH opened at $79.98 on Wednesday. The company has a market capitalization of $197.50 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27. The company’s 50-day moving average is $81.34 and its 200 day moving average is $75.57. 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 Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $89.93.

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, topping analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The firm’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 earnings per share. On average, equities research analysts forecast that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be paid a $0.15 dividend. The ex-dividend date is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s dividend payout ratio (DPR) is presently 26.09%.

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

Insiders Place Their Bets

In other news, CEO Richard Norwitt sold 799,576 shares of Amphenol 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 directly owned 3,855,014 shares in the company, 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 the SEC website. Corporate insiders own 1.42% of the company’s stock.

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.