Amphenol Corporation $APH Shares Acquired by Danske Bank A S

Danske Bank A S increased its stake in Amphenol Corporation (NYSE:APH) by 113.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,712,601 shares of the electronics maker’s stock after acquiring an additional 1,441,417 shares during the quarter. Danske Bank A S owned approximately 0.11% of Amphenol worth $228,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APH. State Street Corp increased its stake in Amphenol by 24.2% in the 2nd 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 in the last quarter. Wellington Management Group LLP raised its holdings in Amphenol by 10.5% during the 2nd quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock worth $2,923,371,000 after buying an additional 1,578,248 shares during the period. Corient Private Wealth LP lifted its stake in Amphenol by 3,010.0% during the second quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock valued at $2,898,248,000 after buying an additional 15,908,901 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amphenol by 4.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,703,604 shares of the electronics maker’s stock valued at $1,710,939,000 after buying an additional 416,388 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new stake in Amphenol during the second quarter valued at about $1,600,531,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Rothschild & Co Redburn decreased their target price on shares of Amphenol from $197.00 to $107.00 in a report on Friday, October 30th. Bank of America boosted their price target on shares of Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Erste Group Bank began coverage on shares of Amphenol in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. Weiss Ratings upgraded Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, November 9th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $102.00 target price on shares of Amphenol in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $107.00.

Amphenol Stock Down 1.8%

Amphenol stock traded down $1.47 during trading hours on Friday, hitting $78.15. The company had a trading volume of 9,580,870 shares, compared to its average volume of 15,824,595. The firm has a market capitalization of $192.98 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. 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 firm’s fifty day moving average is $81.22 and its 200-day moving average is $75.57. Amphenol Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $89.93.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The company had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 65.1% on a year-over-year basis. On average, research analysts forecast that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol Cuts Dividend

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

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

Insider Transactions at Amphenol

In related 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 transaction of $65,949,028.48. Following the completion of the sale, the chief executive officer owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. This trade represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.42% of the company’s stock.

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.