Berger Financial Group Inc acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 36,840 shares of the electronics maker's stock, valued at approximately $5,267,000.
A number of other institutional investors have also made changes to their positions in the stock. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its holdings in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity during the 4th quarter valued at about $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity during the 4th quarter valued at about $55,000. 91.43% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on TEL. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.
Get Our Latest Analysis on TEL
Insider Activity at TE Connectivity
In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.
TE Connectivity Price Performance
Shares of TEL stock traded up $1.07 during trading hours on Wednesday, hitting $146.32. 2,055,115 shares of the company's stock were exchanged, compared to its average volume of 1,683,699. The company has a market capitalization of $43.66 billion, a PE ratio of 23.37, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $159.98. The business's 50 day simple moving average is $141.02 and its 200-day simple moving average is $146.04. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.94%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is 62.42%.
TE Connectivity Company Profile
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Free Report)
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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