Covea Finance Has $12.20 Million Stock Holdings in Amphenol Corporation (NYSE:APH)

Covea Finance decreased its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 55.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,984 shares of the electronics maker's stock after selling 234,006 shares during the quarter. Covea Finance's holdings in Amphenol were worth $12,199,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tacita Capital Inc lifted its holdings in Amphenol by 328.9% during the 4th quarter. Tacita Capital Inc now owns 386 shares of the electronics maker's stock valued at $27,000 after purchasing an additional 296 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Amphenol during the 4th quarter worth $28,000. Rakuten Securities Inc. increased its position in Amphenol by 703.8% during the 4th quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker's stock worth $29,000 after buying an additional 366 shares during the period. OFI Invest Asset Management bought a new position in Amphenol during the 4th quarter worth $44,000. Finally, Global X Japan Co. Ltd. bought a new position in Amphenol during the 1st quarter worth $44,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Insider Activity

In other news, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the sale, the insider now directly owns 451,790 shares of the company's stock, valued at approximately $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Craig A. Lampo sold 400,000 shares of Amphenol stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $75.93, for a total value of $30,372,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares in the company, valued at $7,593,000. The trade was a 80.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,764,500 shares of company stock valued at $294,839,785. 1.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APH has been the topic of several recent research reports. UBS Group increased their price objective on Amphenol from $85.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on Amphenol from $85.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. The Goldman Sachs Group increased their price objective on Amphenol from $90.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen cut Amphenol from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Fox Advisors upgraded Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Amphenol has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Amphenol Stock Performance

NYSE:APH opened at $93.78 on Friday. The stock's 50-day simple moving average is $83.21 and its 200 day simple moving average is $73.64. The firm has a market capitalization of $113.44 billion, a PE ratio of 45.53, a price-to-earnings-growth ratio of 2.13 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.66. Amphenol Corporation has a twelve month low of $54.77 and a twelve month high of $94.83.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.11. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.20 billion. Amphenol had a return on equity of 27.68% and a net margin of 15.58%. Amphenol's revenue was up 47.7% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts anticipate that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 17th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, June 17th. Amphenol's dividend payout ratio (DPR) is presently 32.04%.

About Amphenol

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.

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