iA Global Asset Management Inc. Sells 98,455 Shares of Amphenol Corporation (NYSE:APH)

Key Points

• iA Global Asset Management Inc. significantly reduced its stake in Amphenol Corporation, selling 98,455 shares, representing a 77.1% decrease, and now holds 29,284 shares valued at approximately $1.92 million.
• Amphenol Corporation reported $5.65 billion in revenue for the recent quarter, exceeding analyst estimates, and achieved an earnings per share (EPS) of $0.81, surpassing expectations by $0.15.
• The company has announced a quarterly dividend of $0.165 per share, with the dividend yield standing at 0.6%, set to be paid on October 8th.

iA Global Asset Management Inc. lowered its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 77.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,284 shares of the electronics maker's stock after selling 98,455 shares during the period. iA Global Asset Management Inc.'s holdings in Amphenol were worth $1,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APH. Forum Financial Management LP boosted its holdings in shares of Amphenol by 1.9% during the 1st quarter. Forum Financial Management LP now owns 6,681 shares of the electronics maker's stock worth $438,000 after buying an additional 126 shares during the period. FourThought Financial Partners LLC boosted its holdings in Amphenol by 4.1% during the first quarter. FourThought Financial Partners LLC now owns 3,525 shares of the electronics maker's stock valued at $231,000 after acquiring an additional 139 shares during the period. Gallacher Capital Management LLC grew its position in shares of Amphenol by 4.6% in the first quarter. Gallacher Capital Management LLC now owns 3,197 shares of the electronics maker's stock valued at $210,000 after purchasing an additional 142 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of Amphenol by 2.5% in the first quarter. Adell Harriman & Carpenter Inc. now owns 5,936 shares of the electronics maker's stock worth $389,000 after purchasing an additional 143 shares during the period. Finally, Fullcircle Wealth LLC boosted its stake in Amphenol by 1.3% during the 1st quarter. Fullcircle Wealth LLC now owns 11,806 shares of the electronics maker's stock valued at $774,000 after purchasing an additional 151 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APH has been the subject of a number of research analyst reports. Citigroup upped their price target on Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America raised their price target on shares of Amphenol from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Tuesday. Evercore ISI increased their target price on shares of Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. UBS Group boosted their price target on Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, US Capital Advisors set a $85.00 price objective 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 given a strong buy rating to the company. According to data from MarketBeat.com, Amphenol has a consensus rating of "Moderate Buy" and a consensus price target of $104.92.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 160,000 shares of the company's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luc Walter sold 286,000 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 451,790 shares in the company, valued at $41,307,159.70. This represents a 38.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 586,000 shares of company stock valued at $52,935,980 over the last ninety days. 1.67% of the stock is owned by insiders.

Amphenol Trading Up 1.3%

Shares of Amphenol stock traded up $1.46 on Friday, hitting $110.01. 5,052,387 shares of the company's stock traded hands, compared to its average volume of 9,351,925. Amphenol Corporation has a one year low of $56.45 and a one year high of $110.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46. The stock has a market capitalization of $134.31 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13. The firm's 50-day moving average price is $99.07 and its two-hundred day moving average price is $80.95.

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

Amphenol Announces Dividend

The firm also recently declared 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. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 16th. Amphenol's dividend payout ratio is 26.29%.

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.