Ameriprise Financial Inc. Grows Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Ameriprise Financial Inc. boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,603,251 shares of the electronics maker's stock after purchasing an additional 592,072 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.88% of TE Connectivity worth $801,101,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. increased its holdings in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity during the fourth quarter worth approximately $44,000. Finally, Hilltop National Bank acquired a new position in TE Connectivity in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEL shares. 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 research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their target price on TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Performance

Shares of TEL opened at $150.02 on Friday. The stock has a market capitalization of $44.49 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $159.98. The company's fifty day moving average is $140.68 and its two-hundred day moving average is $146.06.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 earnings per share. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.89%. TE Connectivity's payout ratio is 62.42%.

TE Connectivity Profile

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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