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Wedge Capital Management L L P NC Reduces Stock Holdings in Amphenol Co. (NYSE:APH)

Amphenol logo with Computer and Technology background

Wedge Capital Management L L P NC trimmed its position in shares of Amphenol Co. (NYSE:APH - Free Report) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 835,390 shares of the electronics maker's stock after selling 73,980 shares during the period. Amphenol accounts for 1.1% of Wedge Capital Management L L P NC's portfolio, making the stock its 16th largest holding. Wedge Capital Management L L P NC owned 0.07% of Amphenol worth $54,793,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tacita Capital Inc boosted its stake in Amphenol by 328.9% during the fourth quarter. Tacita Capital Inc now owns 386 shares of the electronics maker's stock valued at $27,000 after buying an additional 296 shares during the last quarter. Sierra Ocean LLC bought a new position in Amphenol during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Amphenol in the 4th quarter worth $28,000. Rakuten Securities Inc. increased its holdings in shares of Amphenol by 703.8% in the 4th quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker's stock worth $29,000 after buying an additional 366 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Amphenol in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Transactions at Amphenol

In other Amphenol news, VP Lance E. D'amico sold 175,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $76.28, for a total value of $13,349,000.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at approximately $3,920,792. This represents a 77.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the insider now directly owns 451,790 shares of the company's stock, valued at approximately $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on Amphenol from $85.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Citigroup increased their price target on Amphenol from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price objective on shares of Amphenol from $85.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. The Goldman Sachs Group lifted their price target on Amphenol from $90.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Robert W. Baird upped their price objective on Amphenol from $73.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Amphenol has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Read Our Latest Report on Amphenol

Amphenol Stock Performance

APH traded up $0.51 on Wednesday, reaching $93.00. 7,601,436 shares of the stock were exchanged, compared to its average volume of 7,497,563. The company's 50-day moving average price is $78.33 and its 200 day moving average price is $72.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75. The firm has a market capitalization of $112.49 billion, a PE ratio of 48.56, a PEG ratio of 1.92 and a beta of 1.12. Amphenol Co. has a fifty-two week low of $54.77 and a fifty-two week high of $94.11.

Amphenol (NYSE:APH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the company earned $0.40 EPS. Amphenol's quarterly revenue was up 47.7% on a year-over-year basis. As a group, sell-side analysts forecast that Amphenol Co. will post 2.36 EPS for the current fiscal year.

Amphenol Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.71%. Amphenol's payout ratio is currently 32.04%.

Amphenol Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Amphenol (NYSE:APH)

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