Amphenol Corporation $APH Stock Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Amphenol Corporation (NYSE:APH) by 92.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,622 shares of the electronics maker’s stock after acquiring an additional 68,828 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Amphenol were worth $12,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vaquero Private Wealth Ltd. purchased a new position in Amphenol during the second quarter worth about $32,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Amphenol by 85.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock valued at $25,000 after buying an additional 91 shares during the period. Tompkins Financial Corp grew its stake in shares of Amphenol by 81.9% in the 2nd quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker’s stock valued at $37,000 after buying an additional 95 shares during the period. Wilkerson Advisory Group LLC grew 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 buying an additional 85 shares during the period. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Amphenol by 54.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker’s stock worth $42,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 3,855,014 shares in the company, valued at $317,961,554.72. This represents a 17.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is owned by insiders.

Amphenol Price Performance

APH stock opened at $79.32 on Thursday. The business’s fifty day moving average price is $81.30 and its 200 day moving average price is $75.59. Amphenol Corporation has a 12-month low of $59.01 and a 12-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 has a market capitalization of $195.85 billion, a PE ratio of 34.49, a P/E/G ratio of 0.95 and a beta of 1.27.

Amphenol (NYSE:APH) last announced 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 analysts’ expectations of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s revenue for the quarter was up 65.1% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. On average, sell-side analysts anticipate that Amphenol Corporation will post 2.83 EPS for the current year.

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

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s payout ratio is presently 21.74%.

Analyst Upgrades and Downgrades

APH has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Amphenol from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Robert W. Baird cut their target price on Amphenol from $190.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Rothschild & Co Redburn reduced their target price on Amphenol from $197.00 to $107.00 in a research report on Friday, October 30th. TD Cowen decreased their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, September 9th. Finally, JPMorgan Chase & Co. increased their price target on Amphenol from $107.00 to $115.00 and gave the stock an “overweight” rating in a 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $107.00.

Amphenol 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.