Harvey Investment Co. LLC Sells 3,080 Shares of Amphenol Corporation (NYSE:APH)

Harvey Investment Co. LLC reduced its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,335 shares of the electronics maker's stock after selling 3,080 shares during the quarter. Amphenol accounts for approximately 1.9% of Harvey Investment Co. LLC's investment portfolio, making the stock its 17th biggest holding. Harvey Investment Co. LLC's holdings in Amphenol were worth $17,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc raised its position in Amphenol by 328.9% during the fourth quarter. Tacita Capital Inc now owns 386 shares of the electronics maker's stock worth $27,000 after acquiring an additional 296 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Amphenol during the fourth quarter worth $28,000. Rakuten Securities Inc. raised its position in Amphenol by 703.8% during the fourth quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker's stock worth $29,000 after acquiring an additional 366 shares in the last quarter. OFI Invest Asset Management bought a new stake in Amphenol during the fourth quarter worth $44,000. Finally, Global X Japan Co. Ltd. bought a new stake in Amphenol during the first quarter worth $44,000. 97.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup upped their price objective on shares of Amphenol from $85.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. US Capital Advisors set a $85.00 price objective on shares of Amphenol in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Amphenol from $85.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Fox Advisors upgraded shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a report on Thursday, April 24th. Finally, TD Securities upped their price objective on shares of Amphenol from $63.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Amphenol Trading Up 0.3%

APH stock opened at $93.78 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.99. The company's 50-day simple moving average is $83.21 and its 200 day simple moving average is $73.63. Amphenol Corporation has a 52 week low of $54.77 and a 52 week high of $94.83. The company has a market capitalization of $113.44 billion, a PE ratio of 45.53, a price-to-earnings-growth ratio of 2.14 and a beta of 1.12.

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

Amphenol Announces Dividend

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

Insider Buying and Selling

In related news, CFO Craig A. Lampo sold 400,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $75.93, for a total transaction of $30,372,000.00. Following the completion of the sale, the chief financial officer now owns 100,000 shares of the company's stock, valued at $7,593,000. This represents a 80.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Adam Norwitt sold 2,000,000 shares of the company'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 sale, the chief executive officer now directly owns 2,002,507 shares of the company's stock, valued at $151,649,855.11. This represents a 49.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,764,500 shares of company stock valued at $294,839,785 over the last quarter. 1.67% of the stock is owned by company 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.

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