Envestnet Portfolio Solutions Inc. Sells 23,631 Shares of Amphenol Corporation (NYSE:APH)

Envestnet Portfolio Solutions Inc. decreased its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 58,583 shares of the electronics maker's stock after selling 23,631 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Amphenol were worth $3,842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sterling Investment Counsel LLC acquired a new stake in Amphenol in the first quarter valued at approximately $602,000. Global X Japan Co. Ltd. acquired a new position in Amphenol in the first quarter valued at $44,000. Premier Path Wealth Partners LLC boosted its position in shares of Amphenol by 4.2% during the 1st quarter. Premier Path Wealth Partners LLC now owns 5,970 shares of the electronics maker's stock valued at $392,000 after purchasing an additional 243 shares in the last quarter. Harrell Investment Partners LLC bought a new stake in shares of Amphenol in the 1st quarter valued at $292,000. Finally, Institute for Wealth Management LLC. boosted its stake in Amphenol by 43.9% during the first quarter. Institute for Wealth Management LLC. now owns 7,647 shares of the electronics maker's stock worth $502,000 after acquiring an additional 2,332 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Stock Up 1.3%

Shares of APH stock traded up $1.27 on Wednesday, hitting $97.07. The stock had a trading volume of 6,227,297 shares, compared to its average volume of 7,612,031. Amphenol Corporation has a 12-month low of $54.77 and a 12-month high of $97.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 1.36. The business has a 50 day moving average of $84.40 and a 200 day moving average of $73.93. The stock has a market cap of $117.42 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 2.18 and a beta of 1.12.

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

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, June 17th. Amphenol's dividend payout ratio (DPR) is presently 32.04%.

Insiders Place Their Bets

In related news, CEO Richard Adam Norwitt sold 2,000,000 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,002,507 shares in the company, valued at $151,649,855.11. The trade was a 49.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lance E. D'amico sold 175,000 shares of Amphenol stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $76.28, for a total transaction of $13,349,000.00. Following the sale, the vice president now owns 51,400 shares of the company's stock, valued at approximately $3,920,792. The trade was a 77.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,764,500 shares of company stock worth $294,839,785 over the last quarter. 1.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Amphenol from $85.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Fox Advisors raised Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research note on Thursday, April 24th. Citigroup increased their price target on Amphenol from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. increased their target price on Amphenol from $85.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Robert W. Baird boosted their price target on shares of Amphenol from $73.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Amphenol 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.