West Coast Financial LLC Sells 98,851 Shares of Amphenol Co. (NYSE:APH)

West Coast Financial LLC lowered its holdings in Amphenol Co. (NYSE:APH) by 40.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,163 shares of the electronics maker’s stock after selling 98,851 shares during the period. Amphenol makes up about 1.1% of West Coast Financial LLC’s portfolio, making the stock its 22nd largest holding. West Coast Financial LLC’s holdings in Amphenol were worth $9,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tacita Capital Inc lifted its holdings in shares of Amphenol by 328.9% during the 4th quarter. Tacita Capital Inc now owns 386 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 296 shares during the period. Sierra Ocean LLC bought a new stake in shares of Amphenol during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Amphenol during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. lifted its holdings in shares of Amphenol by 703.8% during the 4th quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 366 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Amphenol during the 4th quarter worth approximately $44,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on APH shares. US Capital Advisors set a $85.00 price target on shares of Amphenol 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 target for the company in a report on Thursday, April 24th. TD Securities upped their price target on shares of Amphenol from $63.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Amphenol from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Citigroup upped their price target on shares of Amphenol from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Amphenol Stock Performance

Shares of APH stock opened at $92.00 on Thursday. The firm has a 50-day moving average of $76.14 and a 200-day moving average of $71.93. The company has a market cap of $111.28 billion, a P/E ratio of 48.04, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75. Amphenol Co. has a one year low of $54.77 and a one year high of $92.41.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. Equities research 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. Investors of record on Tuesday, June 17th will be issued 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 yield of 0.72%. Amphenol’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling

In other news, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction dated 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 transaction, the insider now owns 451,790 shares in the company, valued at $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. 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 2,000,000 shares of Amphenol 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 completion of the transaction, the chief executive officer now owns 2,002,507 shares of the company’s stock, valued at $151,649,855.11. The trade was a 49.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,764,500 shares of company stock worth $294,839,785. Insiders own 1.67% of the company’s stock.

Amphenol Company 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.