Covea Finance Has $26.70 Million Stock Holdings in Amphenol Co. (NYSE:APH)

Covea Finance trimmed its position in Amphenol Co. (NYSE:APH) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,240 shares of the electronics maker’s stock after selling 14,141 shares during the period. Covea Finance owned approximately 0.05% of Amphenol worth $26,695,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MCF Advisors LLC raised its holdings in Amphenol by 129.0% during the 1st quarter. MCF Advisors LLC now owns 300 shares of the electronics maker’s stock worth $25,000 after buying an additional 169 shares during the period. Manitou Investment Management Ltd. acquired a new stake in Amphenol during the 1st quarter worth approximately $25,000. Creative Financial Designs Inc. ADV acquired a new stake in Amphenol during the 1st quarter worth approximately $27,000. Aspire Private Capital LLC acquired a new stake in Amphenol during the 1st quarter worth approximately $32,688,000,000. Finally, Sunbelt Securities Inc. acquired a new stake in Amphenol during the 1st quarter worth approximately $33,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group raised their target price on shares of Amphenol from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, August 7th. StockNews.com began coverage on shares of Amphenol in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial lifted their price objective on shares of Amphenol from $93.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Stifel Nicolaus lifted their price objective on shares of Amphenol from $80.00 to $88.00 in a report on Thursday, July 27th. Finally, Robert W. Baird lifted their price objective on shares of Amphenol from $89.00 to $100.00 in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.25.

Amphenol Stock Down 0.0 %

Shares of NYSE:APH traded down $0.04 during midday trading on Friday, hitting $86.47. The stock had a trading volume of 424,989 shares, compared to its average volume of 2,518,848. Amphenol Co. has a 12 month low of $65.21 and a 12 month high of $90.28. The company has a market cap of $51.58 billion, a P/E ratio of 28.18, a PEG ratio of 3.40 and a beta of 1.24. The business’s 50-day simple moving average is $86.63 and its 200-day simple moving average is $81.07. The company has a quick ratio of 1.60, a current ratio of 2.33 and a debt-to-equity ratio of 0.52.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Amphenol had a net margin of 15.15% and a return on equity of 25.85%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Amphenol’s revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Amphenol Co. will post 2.92 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Tuesday, September 19th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.84 annualized dividend and a dividend yield of 0.97%. Amphenol’s dividend payout ratio (DPR) is presently 27.36%.

Insider Buying and Selling

In related news, CEO Richard Adam Norwitt sold 650,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $87.43, for a total transaction of $56,829,500.00. Following the completion of the sale, the chief executive officer now owns 967,424 shares of the company’s stock, valued at $84,581,880.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Craig A. Lampo sold 300,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $88.11, for a total transaction of $26,433,000.00. Following the completion of the sale, the chief financial officer now owns 87,045 shares of the company’s stock, valued at $7,669,534.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 650,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $87.43, for a total transaction of $56,829,500.00. Following the completion of the transaction, the chief executive officer now directly owns 967,424 shares of the company’s stock, valued at approximately $84,581,880.32. The disclosure for this sale can be found here. Insiders sold 1,339,962 shares of company stock valued at $117,480,732 over the last quarter. 2.22% of the stock is owned by company insiders.

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.