37,028 Amphenol Corporation $APH Shares Purchased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. boosted its position in Amphenol Corporation (NYSE:APH) by 115.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,056 shares of the electronics maker’s stock after buying an additional 37,028 shares during the quarter. Inspire Trust Co. N.A.’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 added to or reduced their stakes in the company. Bahl & Gaynor LLC lifted its stake in shares of Amphenol by 115.0% in the third quarter. Bahl & Gaynor LLC now owns 1,734,853 shares of the electronics maker’s stock worth $146,248,000 after acquiring an additional 927,799 shares in the last quarter. Letson Investment Management Inc. boosted its holdings in Amphenol by 100.0% in the third quarter. Letson Investment Management Inc. now owns 3,858 shares of the electronics maker’s stock valued at $325,000 after purchasing an additional 1,929 shares during the last quarter. Renasant Bank grew its stake in Amphenol by 93.7% during the 3rd quarter. Renasant Bank now owns 19,865 shares of the electronics maker’s stock valued at $1,675,000 after purchasing an additional 9,611 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in Amphenol by 33.7% during the 3rd quarter. Confluence Wealth Services Inc. now owns 7,305 shares of the electronics maker’s stock valued at $616,000 after purchasing an additional 1,842 shares in the last quarter. Finally, AMG National Trust Bank purchased a new stake in Amphenol during the 3rd quarter worth approximately $403,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $82.48, for a total transaction 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. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APH shares. Citigroup reiterated 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. JPMorgan Chase & Co. raised their price objective on shares of Amphenol from $107.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. The Goldman Sachs Group reissued 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. BNP Paribas Exane boosted their target price on shares of Amphenol from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Finally, TD Cowen cut their target price on shares of Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, September 9th. One investment 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $108.32.

Amphenol Price Performance

APH opened at $79.98 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $81.34 and its 200 day moving average price is $75.57. Amphenol Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $89.93. The firm has a market cap of $197.50 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 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 the consensus estimate of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. As a group, sell-side analysts expect that Amphenol Corporation will post 2.83 earnings per share for the current year.

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

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be issued a $0.15 dividend. This is a negative change 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 annualized dividend and a dividend yield of 0.8%. Amphenol’s dividend payout ratio (DPR) is 26.09%.

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.