Harvest Fund Management Co. Ltd Has $2.93 Million Stake in Amphenol Corporation (NYSE:APH)

Key Points

• Harvest Fund Management Co. Ltd cut its stake in Amphenol Corporation (NYSE:APH) by 57.6%, holding $2.93 million worth of shares after selling over 60,000 during the first quarter.
• Amphenol reported strong earnings, with $0.81 EPS for the quarter, surpassing analyst estimates of $0.66, and a revenue increase of 56.5% year-over-year.
• A recent dividend of $0.165 per share was declared, representing an annualized dividend yield of 0.62%, with the company's payout ratio at 26.29%.

Harvest Fund Management Co. Ltd lessened its position in Amphenol Corporation (NYSE:APH - Free Report) by 57.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,734 shares of the electronics maker's stock after selling 60,733 shares during the period. Harvest Fund Management Co. Ltd's holdings in Amphenol were worth $2,934,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of APH. Bank of America Corp DE increased its position in shares of Amphenol by 294.0% during the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after acquiring an additional 18,619,417 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Amphenol by 36.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock worth $4,091,426,000 after acquiring an additional 15,837,407 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Amphenol by 619.9% during the fourth quarter. Wellington Management Group LLP now owns 7,014,111 shares of the electronics maker's stock worth $487,130,000 after acquiring an additional 6,039,845 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Amphenol by 118.4% during the fourth quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker's stock worth $503,975,000 after acquiring an additional 3,933,269 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Amphenol by 108.9% during the fourth quarter. Mackenzie Financial Corp now owns 5,564,252 shares of the electronics maker's stock worth $386,437,000 after acquiring an additional 2,900,024 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Amphenol from $113.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Truist Financial raised their target price on shares of Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Amphenol from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amphenol in a research report on Friday, July 11th. Finally, KGI Securities assumed coverage on shares of Amphenol in a research report on Thursday, June 26th. They issued a "hold" rating for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Amphenol currently has an average rating of "Moderate Buy" and an average target price of $102.23.

Amphenol Stock Performance

Shares of NYSE APH traded up $0.11 during mid-day trading on Wednesday, reaching $105.42. 7,242,022 shares of the company were exchanged, compared to its average volume of 8,221,268. Amphenol Corporation has a twelve month low of $54.77 and a twelve month high of $108.85. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. The company's 50-day simple moving average is $96.19 and its 200-day simple moving average is $79.12. The stock has a market capitalization of $128.71 billion, a P/E ratio of 42.00, a P/E/G ratio of 1.76 and a beta of 1.13.

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

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, June 17th. Amphenol's dividend payout ratio is currently 26.29%.

Insider Activity

In related news, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the sale, the insider directly owned 451,790 shares of the company's stock, valued at approximately $41,307,159.70. The trade was a 38.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William J. Doherty sold 160,000 shares of Amphenol stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $89.54, for a total transaction of $14,326,400.00. The disclosure for this sale can be found here. Insiders sold 799,500 shares of company stock valued at $70,053,885 in the last 90 days. 1.67% of the stock is owned by corporate insiders.

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.