Varenne Capital Partners Sells 261,090 Shares of Amphenol Corporation (NYSE:APH)

Key Points

• Varenne Capital Partners sold 261,090 shares of Amphenol Corporation, reducing its holdings by 69% to 117,527 shares, which now represent 2.8% of their investment portfolio.
• Amphenol reported $5.65 billion in revenue for the last quarter, exceeding analyst estimates, and had an earnings per share (EPS) of $0.81, surpassing expectations of $0.66.
• The company announced a quarterly dividend of $0.165 per share, indicating an annualized yield of 0.6%, to be paid on October 8th.

Varenne Capital Partners lowered its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,527 shares of the electronics maker's stock after selling 261,090 shares during the quarter. Amphenol accounts for approximately 2.8% of Varenne Capital Partners' investment portfolio, making the stock its 11th biggest holding. Varenne Capital Partners' holdings in Amphenol were worth $7,709,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of APH. Hughes Financial Services LLC bought a new stake in shares of Amphenol in the 1st quarter worth approximately $25,000. Avalon Trust Co raised its holdings in shares of Amphenol by 133.3% in the 1st quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock worth $27,000 after purchasing an additional 232 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Amphenol in the 1st quarter worth approximately $28,000. SouthState Corp bought a new stake in shares of Amphenol in the 1st quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. purchased a new position in Amphenol in the 1st quarter valued at approximately $44,000. Institutional investors own 97.01% of the company's stock.

Amphenol Stock Down 1.9%

APH opened at $109.75 on Thursday. Amphenol Corporation has a one year low of $56.45 and a one year high of $112.35. 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 firm has a market capitalization of $134.00 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 1.82 and a beta of 1.13. The company has a fifty day moving average price of $100.21 and a 200-day moving average price of $81.62.

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

Amphenol Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Amphenol's payout ratio is currently 26.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APH shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Amphenol in a research note on Friday, July 11th. Robert W. Baird lifted their price objective on shares of Amphenol from $113.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Amphenol from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Amphenol from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, US Capital Advisors set a $85.00 price objective on shares of Amphenol in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $104.92.

Insider Activity at Amphenol

In other Amphenol news, 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 value of $26,148,980.00. Following the completion of the sale, the insider directly owned 451,790 shares of the company's stock, valued at $41,307,159.70. The trade was a 38.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William J. Doherty sold 113,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $110.29, for a total transaction of $12,462,770.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 812,000 shares of company stock valued at $77,703,320. 1.67% of the stock is currently owned by 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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