Cornerstone Wealth Management LLC Takes Position in Amphenol Co. (NYSE:APH)

Cornerstone Wealth Management LLC bought a new stake in shares of Amphenol Co. (NYSE:APH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,392 shares of the electronics maker’s stock, valued at approximately $482,000.

Other hedge funds have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its holdings in Amphenol by 0.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock valued at $3,609,000 after purchasing an additional 80 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in Amphenol by 1.7% during the 1st quarter. Atomi Financial Group Inc. now owns 4,720 shares of the electronics maker’s stock valued at $544,000 after purchasing an additional 81 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in Amphenol by 1.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 6,076 shares of the electronics maker’s stock valued at $701,000 after purchasing an additional 88 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in Amphenol by 3.4% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,724 shares of the electronics maker’s stock valued at $313,000 after purchasing an additional 89 shares during the last quarter. Finally, Webster Bank N. A. grew its stake in Amphenol by 16.2% in the 1st quarter. Webster Bank N. A. now owns 697 shares of the electronics maker’s stock worth $80,000 after acquiring an additional 97 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group upped their target price on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Vertical Research assumed coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. Robert W. Baird dropped their target price on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Truist Financial upped their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Bank of America dropped their target price on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Insider Activity at Amphenol

In related news, insider William J. Doherty sold 300,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amphenol news, VP Lance E. D’amico sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The disclosure for this sale can be found here. Insiders sold 1,516,000 shares of company stock valued at $98,236,640 over the last 90 days. Insiders own 1.80% of the company’s stock.

Amphenol Price Performance

Shares of APH opened at $67.46 on Friday. Amphenol Co. has a fifty-two week low of $39.34 and a fifty-two week high of $70.84. The company has a 50 day moving average price of $64.76 and a 200-day moving average price of $64.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The stock has a market capitalization of $81.03 billion, a PE ratio of 41.39, a PEG ratio of 2.56 and a beta of 1.24.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Amphenol’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts predict that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.98%. Amphenol’s payout ratio is 40.49%.

Amphenol Company Profile

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.