Baird Financial Group Inc. boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,498,871 shares of the electronics maker's stock after acquiring an additional 264,740 shares during the period. Baird Financial Group Inc. owned 0.84% of TE Connectivity worth $357,264,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Beverly Hills Private Wealth LLC lifted its stake in TE Connectivity by 61.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock worth $1,587,000 after acquiring an additional 4,214 shares during the period. Benjamin Edwards Inc. lifted its position in shares of TE Connectivity by 113.3% in the 4th quarter. Benjamin Edwards Inc. now owns 4,648 shares of the electronics maker's stock worth $665,000 after purchasing an additional 2,469 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after purchasing an additional 592,072 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of TE Connectivity during the fourth quarter valued at about $47,736,000. Finally, Ancora Advisors LLC raised its stake in TE Connectivity by 150.0% in the fourth quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock worth $71,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Transactions at TE Connectivity
In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company'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 completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president now owns 24,625 shares of the company's stock, valued at $3,678,728.75. This represents a 54.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Stock Up 0.9 %
TEL stock traded up $1.36 during midday trading on Wednesday, hitting $149.89. The company's stock had a trading volume of 1,482,131 shares, compared to its average volume of 1,681,827. The company has a market cap of $44.45 billion, a PE ratio of 23.94, a P/E/G ratio of 2.11 and a beta of 1.23. 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 Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The firm's 50-day moving average is $140.56 and its 200-day moving average is $146.08.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The firm's revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date 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%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on TEL shares. JPMorgan Chase & Co. increased their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. 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. UBS Group restated a "buy" rating and set a $163.00 target price (up previously from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Wells Fargo & Company increased their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Finally, Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Four investment 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. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and an average target price of $159.50.
Check Out Our Latest Research Report on TE Connectivity
About TE Connectivity
(
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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