Amphenol Corporation $APH Stock: Davis Investment Partners LLC Grows Stake

Davis Investment Partners LLC increased its position in shares of Amphenol Corporation (NYSE:APH) by 100.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,352 shares of the electronics maker’s stock after acquiring an additional 58,688 shares during the quarter. Amphenol comprises about 3.1% of Davis Investment Partners LLC’s investment portfolio, making the stock its 5th largest position. Davis Investment Partners LLC’s holdings in Amphenol were worth $9,893,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vaquero Private Wealth Ltd. bought a new stake in Amphenol during the 2nd quarter worth about $32,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Amphenol by 85.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 91 shares during the period. Tompkins Financial Corp lifted its position in Amphenol by 81.9% during the 2nd quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 95 shares during the period. Wilkerson Advisory Group LLC boosted its stake in shares of Amphenol by 57.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Amphenol by 54.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the 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 sale, the chief executive officer directly 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 corporate insiders.

Amphenol Trading Down 0.9%

NYSE APH opened at $79.98 on Wednesday. The stock has a 50-day simple moving average of $81.34 and a 200 day simple moving average of $75.57. The company has a market capitalization of $197.50 billion, a PE ratio of 34.77, a P/E/G ratio of 0.96 and a beta of 1.27. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93.

Amphenol (NYSE:APH) last released its earnings results 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 firm 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 firm posted $0.93 earnings per share. The company’s quarterly revenue was up 65.1% on a year-over-year basis. Research analysts forecast that Amphenol Corporation will post 2.83 EPS for the current year.

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

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be paid a $0.15 dividend. This is a drop from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Amphenol’s dividend payout ratio (DPR) is currently 21.74%.

Analyst Ratings Changes

Several equities research analysts have recently commented on APH shares. Wall Street Zen upgraded shares of Amphenol from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup reissued a “buy” rating and set a $115.00 price target (up from $112.00) on shares of Amphenol in a research note on Thursday, October 29th. Royal Bank Of Canada set a $100.00 price objective on shares of Amphenol in a report on Monday, October 26th. Robert W. Baird reduced their price objective on shares of Amphenol from $190.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Finally, Barclays lifted their target price on shares of Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.