October 5, 2023 – Creative Planning, a firm specializing in investment management and financial planning, has increased its holdings in Amphenol Co. (NYSE: APH) during the second quarter, according to its recent Form 13F filing with the Securities and Exchange Commission. This move signifies Creative Planning’s confidence in the electronics maker’s stock as it acquired an additional 9,111 shares during this period. The firm’s ownership of Amphenol reached a value of $20,067,000 by the end of the quarter.
Amphenol reported its quarterly earnings on July 26th. The company beat expectations with earnings per share (EPS) of $0.72 for the quarter, surpassing the consensus estimate of $0.68 by $0.04. Its revenue stood at $3.05 billion, which exceeded the consensus estimate of $2.95 billion. However, there was a decline of 2.6% in quarterly revenue compared to the same period last year when it posted an EPS of $0.75.
Despite this decline in revenue, analysts predict that Amphenol Co will post an EPS of 2.92 for the current year. Several research firms have expressed positive sentiments towards Amphenol recently. UBS Group has raised its price objective on Amphenol shares from $88 to $103 and rated them as a “buy.” Similarly, Robert W. Baird upped their price target from $89 to $100 while Stifel Nicolaus increased theirs from $80 to $88 during July 27th reports.
Bank of America also raised their price target on Amphenol shares from $90 to $100 on that same day while Truist Financial increased theirs to from $93 to $101 along with giving the company a “buy” rating.
In summary, despite a slight dip in revenue for Q2, Creative Planning’s increased stake in Amphenol demonstrates their confidence in the electronics manufacturer. Furthermore, various research firms have expressed positive outlooks for Amphenol, with an average price target of $94.25 and a consensus rating of “Moderate Buy” according to data from Bloomberg.
Disclaimer: This article is for informational purposes only and should not be taken as financial advice.
Amphenol Corporation Witnesses Changes in Shareholder Base and Executive Movements as Investor Confidence Grows
Amphenol Corporation (APH), a leading electronics manufacturer, has experienced significant changes in its shareholder base and key executive movements recently. Several institutional investors and hedge funds, including Vontobel Holding Ltd., Sei Investments Co., Canada Pension Plan Investment Board, Prudential PLC, and Sequoia Financial Advisors LLC, have made adjustments to their positions in APH during the first quarter. These changes indicate a level of confidence and strategic decision-making among these investment entities.
Vontobel Holding Ltd. increased its holdings in Amphenol by 8.2%, acquiring an additional 1,006 shares, which now brings their total ownership to 13,325 shares valued at $1,022,000. Similarly, Sei Investments Co. raised its holdings by 4%, purchasing an extra 6,405 shares that are now worth $12,716,000. Canada Pension Plan Investment Board demonstrated the most substantial increase among these investors with a 56.7% boost in holdings. They acquired an additional 95,613 shares valued at $19,906,000 during the first quarter of this year.
Elsewhere in the industry shifts within APH’s financial landscape is the acquisition of a new stake by Prudential PLC worth approximately $857,000 as well as one by Sequoia Financial Advisors LLC totaling approximately $245,000. With these developments combined with the aforementioned institutional investments and hedge fund activity surrounding APH stock ownership has reached around 93.46%.
In terms of leadership transitions at APH we find Richard Adam Norwitt selling off a substantial amount of his company’s stock – specifically 650,000 shares on July 28th at an average price of $87.43 per share for a total transaction value of $56,8295000+. Following this transaction Norwitt was left with 967424 shares equating to approximately $84 million dollars’ worth of stock. Moreover, CFO Craig A. Lampo also engaged in a significant sale of 300,000 shares on the same day at an average price of $88.11 per share raking in $26,433,000. Subsequently, he retained 87045 shares worth $7.6 million.
It is interesting to note that these insider transactions are part of a larger trend with insiders having sold a total of around 1,339,962 shares over the past three months valued at more than $117 million. Insider ownership now stands at 2.22% making up just over two percent of the company’s stock.
In terms of financial performance and market indicators APH opened at $83.34 on Thursday with a market capitalization of approximately $49.71 billion. The company’s debt-to-equity ratio stands at 0.52 indicating a balanced financial structure while its quick ratio stands at 1.60 indicating good liquidity and ability to respond to short-term obligations.
The company has exhibited steady growth with its price-to-earnings ratio standing at 27.15 and a PEG ratio of 3.24 suggesting that despite its current valuation there may still be room for further growth moving forward.
These adjustments in shareholder positions as well as executive movements highlight the dynamic nature of APH’s corporate environment and provide important insights into investor sentiment and confidence levels within the industry.