Penobscot Investment Management Company Inc. Has $10.71 Million Stake in Amphenol Corporation (NYSE:APH)

Penobscot Investment Management Company Inc. raised its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,242 shares of the electronics maker's stock after buying an additional 9,952 shares during the period. Amphenol comprises 1.0% of Penobscot Investment Management Company Inc.'s portfolio, making the stock its 25th biggest position. Penobscot Investment Management Company Inc.'s holdings in Amphenol were worth $10,707,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Western Wealth Management LLC increased its holdings in shares of Amphenol by 9.1% during the first quarter. Western Wealth Management LLC now owns 5,218 shares of the electronics maker's stock worth $342,000 after buying an additional 434 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Amphenol by 19.2% in the first quarter. Sequoia Financial Advisors LLC now owns 26,893 shares of the electronics maker's stock valued at $1,764,000 after purchasing an additional 4,337 shares in the last quarter. Phillips Wealth Planners LLC increased its holdings in shares of Amphenol by 71.1% in the first quarter. Phillips Wealth Planners LLC now owns 5,381 shares of the electronics maker's stock valued at $352,000 after purchasing an additional 2,236 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Amphenol by 29.4% in the first quarter. Perigon Wealth Management LLC now owns 17,438 shares of the electronics maker's stock valued at $1,144,000 after purchasing an additional 3,964 shares in the last quarter. Finally, Generate Investment Management Ltd increased its holdings in shares of Amphenol by 185.5% in the first quarter. Generate Investment Management Ltd now owns 477,972 shares of the electronics maker's stock valued at $31,350,000 after purchasing an additional 310,542 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Fox Advisors raised 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. Citigroup raised their price target on shares of Amphenol from $85.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Robert W. Baird raised their price target on shares of Amphenol from $73.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Evercore ISI raised their price target on shares of Amphenol from $88.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Wall Street Zen raised shares of Amphenol from a "hold" rating to a "buy" rating in a report on Sunday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Insider Transactions at Amphenol

In related news, insider Luc Walter sold 390,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $75.91, for a total value of $29,604,900.00. Following the sale, the insider now directly owns 447,790 shares of the company's stock, valued at approximately $33,991,738.90. The trade was a 46.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 2,000,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,002,507 shares in the company, valued at $151,649,855.11. This represents a 49.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,764,500 shares of company stock valued at $294,839,785 over the last three months. 1.67% of the stock is currently owned by corporate insiders.

Amphenol Price Performance

APH opened at $97.07 on Thursday. The company has a fifty day moving average price of $85.05 and a two-hundred day moving average price of $74.09. The firm has a market capitalization of $117.42 billion, a PE ratio of 47.12, a P/E/G ratio of 2.18 and a beta of 1.12. Amphenol Corporation has a 52 week low of $54.77 and a 52 week high of $97.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.99.

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

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 17th will be given 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 0.68%. Amphenol's dividend payout ratio is 32.04%.

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.

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