M&T Bank Corp Sells 41,900 Shares of Amphenol Corporation (NYSE:APH)

M&T Bank Corp lessened its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,316 shares of the electronics maker's stock after selling 41,900 shares during the period. M&T Bank Corp's holdings in Amphenol were worth $15,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC boosted its stake in shares of Amphenol by 29.4% in the 1st quarter. Perigon Wealth Management LLC now owns 17,438 shares of the electronics maker's stock worth $1,144,000 after buying an additional 3,964 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Amphenol in the 4th quarter worth approximately $13,847,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Amphenol by 46.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 69,958 shares of the electronics maker's stock worth $4,589,000 after buying an additional 22,293 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of Amphenol by 14.4% in the 1st quarter. Transcend Capital Advisors LLC now owns 4,504 shares of the electronics maker's stock worth $295,000 after buying an additional 568 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Amphenol by 4.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 61,920 shares of the electronics maker's stock worth $4,061,000 after buying an additional 2,514 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insiders Place Their Bets

In other Amphenol news, insider Luc Walter sold 286,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 owned 451,790 shares in the company, valued at approximately $41,307,159.70. This trade represents a 38.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David M. Silverman sold 100,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.09, for a total value of $8,909,000.00. Following the completion of the sale, the vice president owned 12,500 shares of the company's stock, valued at approximately $1,113,625. This trade represents a 88.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,764,500 shares of company stock worth $294,839,785. Insiders own 1.67% of the company's stock.

Amphenol Trading Up 0.8%

NYSE APH traded up $0.82 during trading on Wednesday, hitting $98.23. 6,244,543 shares of the company's stock traded hands, compared to its average volume of 7,664,192. The firm has a market cap of $118.82 billion, a P/E ratio of 47.68, a PEG ratio of 2.25 and a beta of 1.13. Amphenol Corporation has a 12-month low of $54.77 and a 12-month high of $99.99. The stock has a fifty day moving average of $90.02 and a two-hundred day moving average of $75.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 1.36.

Amphenol (NYSE:APH - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.11. The company had revenue of $4.81 billion during the quarter, compared to analysts' expectations of $4.20 billion. Amphenol had a return on equity of 27.68% and a net margin of 15.58%. Amphenol's quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. As a group, sell-side analysts expect that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, June 17th. Amphenol's dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analyst Weigh In

Several research firms recently commented on APH. Evercore ISI upped their price objective on Amphenol from $88.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. upped their price objective on Amphenol from $85.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. US Capital Advisors set a $85.00 price objective on Amphenol in a research note on Thursday, April 24th. UBS Group upped their price objective on Amphenol from $85.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Robert W. Baird increased their price objective on Amphenol from $73.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

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.