460,897 Amphenol Corporation $APH Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Amphenol Corporation (NYSE:APH) by 93.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 955,401 shares of the electronics maker’s stock after acquiring an additional 460,897 shares during the quarter. Fifth Third Bancorp’s holdings in Amphenol were worth $80,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Purus Wealth Management LLC raised its holdings in Amphenol by 3.7% during the second quarter. Purus Wealth Management LLC now owns 1,801 shares of the electronics maker’s stock worth $318,000 after purchasing an additional 65 shares in the last quarter. Cornerstone Financial Management LLC boosted its holdings in shares of Amphenol by 27.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 304 shares of the electronics maker’s stock valued at $54,000 after buying an additional 65 shares in the last quarter. Guardian Wealth Advisors LLC NC grew its position in shares of Amphenol by 0.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker’s stock valued at $2,506,000 after buying an additional 72 shares during the last quarter. Knuff & Co LLC grew its position in shares of Amphenol by 1.3% in the 2nd quarter. Knuff & Co LLC now owns 5,675 shares of the electronics maker’s stock valued at $1,001,000 after buying an additional 75 shares during the last quarter. Finally, Wilkerson Advisory Group LLC raised its stake in Amphenol by 57.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. 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. Royal Bank Of Canada set a $100.00 price target on Amphenol in a research report on Monday, October 26th. UBS Group upped their price objective on shares of Amphenol from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, TD Cowen reduced their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Amphenol has an average rating of “Buy” and an average price target of $107.00.

Amphenol Trading Up 0.6%

Shares of Amphenol stock opened at $79.81 on Friday. 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 stock has a market cap of $197.07 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. The company has a 50-day moving average of $81.30 and a two-hundred day moving average of $75.60.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The company’s quarterly revenue was up 65.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 EPS. On average, research analysts anticipate that Amphenol Corporation will post 2.83 EPS for the current fiscal 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 drop from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s payout ratio is presently 21.74%.

Amphenol declared that its board has initiated a stock repurchase program on Wednesday, October 28th that permits the company to repurchase $4 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the business’s 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 sale, the chief executive officer directly owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

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.