Amphenol Corporation (NYSE:APH) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its stake in Amphenol Corporation by 81.7%, now holding 36,542 shares valued at approximately $2.43 million after selling 162,702 shares.
• Analysts have raised their price targets for Amphenol, with Citigroup boosting its target from $115 to $125 and Truist Financial increasing theirs from $102 to $126, reflecting optimism about the stock's performance.
• Amphenol reported a 56.5% increase in revenue year-over-year, achieving $5.65 billion in quarterly revenue, and beat earnings per share estimates with a reported $0.81 EPS.

Raiffeisen Bank International AG reduced its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 81.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 36,542 shares of the electronics maker's stock after selling 162,702 shares during the period. Raiffeisen Bank International AG's holdings in Amphenol were worth $2,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new position in Amphenol in the first quarter worth $25,000. Avalon Trust Co boosted its position in Amphenol by 133.3% during the 1st quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Amphenol during the 1st quarter worth about $28,000. Global X Japan Co. Ltd. acquired a new stake in shares of Amphenol during the 1st quarter worth approximately $44,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Amphenol during the 4th quarter worth $48,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Insiders Place Their Bets

In related news, insider William J. Doherty sold 160,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $89.54, for a total value of $14,326,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Ivas sold 40,000 shares of Amphenol stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the transaction, the vice president owned 152,412 shares in the company, valued at $13,532,661.48. The trade was a 20.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock worth $52,935,980 in the last 90 days. 1.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

APH has been the subject of a number of analyst reports. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a research note on Thursday, April 24th. Industrial Alliance Securities set a $115.00 price target on shares of Amphenol in a report on Friday, July 11th. Citigroup lifted their price objective on Amphenol from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Amphenol from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, US Capital Advisors set a $85.00 price target on Amphenol in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.23.

Amphenol Stock Performance

NYSE APH traded down $0.14 on Tuesday, hitting $108.49. 1,186,391 shares of the stock traded hands, compared to its average volume of 8,522,381. The business's fifty day moving average is $97.45 and its two-hundred day moving average is $80.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.46 and a current ratio of 2.02. The firm has a market capitalization of $132.46 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 1.74 and a beta of 1.13. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $109.90.

Amphenol (NYSE:APH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The company's quarterly revenue was up 56.5% compared to the same quarter last year. As a group, equities analysts anticipate that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Tuesday, September 16th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Amphenol's dividend payout ratio (DPR) is presently 26.29%.

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.