Retirement Systems of Alabama Purchases 258,689 Shares of Amphenol Corporation $APH

Retirement Systems of Alabama raised its position in shares of Amphenol Corporation (NYSE:APH) by 100.1% in the third quarter, HoldingsChannel reports. The firm owned 517,133 shares of the electronics maker’s stock after acquiring an additional 258,689 shares during the period. Retirement Systems of Alabama’s holdings in Amphenol were worth $43,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of APH. Joseph Group Capital Management raised its stake in Amphenol by 243.3% during the 3rd quarter. Joseph Group Capital Management now owns 817 shares of the electronics maker’s stock valued at $69,000 after acquiring an additional 579 shares in the last quarter. Fulcrum Asset Management LLP grew its stake in shares of Amphenol by 113.9% in the third quarter. Fulcrum Asset Management LLP now owns 96,771 shares of the electronics maker’s stock worth $8,162,000 after purchasing an additional 51,530 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Amphenol by 132.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,610,411 shares of the electronics maker’s stock worth $309,304,000 after purchasing an additional 2,054,660 shares in the last quarter. GreatBanc Trust CO grew its stake in shares of Amphenol by 102.0% in the third quarter. GreatBanc Trust CO now owns 3,232 shares of the electronics maker’s stock worth $272,000 after purchasing an additional 1,632 shares in the last quarter. Finally, Accuvest Global Advisors acquired a new position in shares of Amphenol during the third quarter valued at $839,000. Institutional investors own 97.01% of the company’s stock.

Amphenol Price Performance

NYSE APH opened at $79.98 on Wednesday. The stock has a market capitalization of $197.50 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.96 and a beta of 1.27. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The business’s fifty day moving average is $81.34 and its two-hundred 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 (NYSE:APH) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the company posted $0.93 EPS. Amphenol’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 fiscal year.

Amphenol declared that its board has authorized a stock repurchase program on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 22nd. 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%. Amphenol’s dividend payout ratio is 26.09%.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were 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. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APH has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. UBS Group increased their target price on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. BNP Paribas Exane increased their target price on shares of Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Barclays raised their target price on shares of Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, Wolfe Research began coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Amphenol currently has an average rating of “Buy” and a consensus target price 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.