Zurich Insurance Group Ltd FI lowered its holdings in shares of Amphenol Co. (NYSE:APH – Free Report) by 96.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,500 shares of the electronics maker’s stock after selling 496,101 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Amphenol were worth $1,487,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Amphenol by 87,837.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 88,111,001 shares of the electronics maker’s stock worth $7,485,030,000 after acquiring an additional 88,010,804 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Amphenol by 95,441.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,868,807 shares of the electronics maker’s stock worth $1,055,971,000 after acquiring an additional 13,854,291 shares during the last quarter. Norges Bank bought a new stake in Amphenol in the 4th quarter worth $653,884,000. Envestnet Asset Management Inc. grew its holdings in Amphenol by 400.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,634,009 shares of the electronics maker’s stock worth $151,492,000 after acquiring an additional 7,708,450 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Amphenol by 44.1% in the 4th quarter. Morgan Stanley now owns 10,811,475 shares of the electronics maker’s stock worth $823,186,000 after acquiring an additional 3,310,939 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Wall Street Analysts Forecast Growth

APH has been the topic of a number of recent analyst reports. BNP Paribas initiated coverage on shares of Amphenol in a report on Thursday, October 5th. They issued an “outperform” rating and a $93.00 price target on the stock. Truist Financial cut their price target on shares of Amphenol from $101.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Finally, StockNews.com assumed coverage on shares of Amphenol in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Check Out Our Latest Research Report on APH

Insider Buying and Selling

In related news, VP David M. Silverman sold 75,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $89.51, for a total transaction of $6,713,250.00. Following the sale, the vice president now owns 7,000 shares of the company’s stock, valued at $626,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP David M. Silverman sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $89.51, for a total value of $6,713,250.00. Following the transaction, the vice president now owns 7,000 shares in the company, valued at $626,570. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Livingston bought 11,839 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average price of $84.81 per share, for a total transaction of $1,004,065.59. Following the purchase, the director now owns 59,120 shares of the company’s stock, valued at approximately $5,013,967.20. The disclosure for this purchase can be found here. 2.22% of the stock is currently owned by insiders.

Amphenol Price Performance

Shares of NYSE APH opened at $93.23 on Friday. Amphenol Co. has a 1 year low of $72.00 and a 1 year high of $93.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.33 and a quick ratio of 1.61. The company’s 50-day moving average is $85.64 and its 200 day moving average is $84.58. The stock has a market capitalization of $55.78 billion, a P/E ratio of 30.07, a P/E/G ratio of 3.90 and a beta of 1.27.

Amphenol (NYSE:APH – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. Amphenol had a net margin of 15.41% and a return on equity of 24.57%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. Amphenol’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts expect that Amphenol Co. will post 2.96 earnings per share for the current year.

Amphenol Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Tuesday, December 19th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, December 18th. This represents a $0.88 annualized dividend and a yield of 0.94%. This is a positive change from Amphenol’s previous quarterly dividend of $0.21. Amphenol’s payout ratio is presently 27.10%.

About Amphenol (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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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Original: MarketBeat News Feed: Zurich Insurance Group Ltd FI Sells 496,101 Shares of Amphenol Co. (NYSE:APH)