Bridgefront Capital LLC Makes New $839,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

Bridgefront Capital LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,867 shares of the electronics maker's stock, valued at approximately $839,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC bought a new stake in TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the fourth quarter worth $44,000. Finally, Hilltop National Bank bought a new position in shares of TE Connectivity during the fourth quarter worth $55,000. 91.43% of the stock is currently owned by institutional investors.

Insider Transactions at TE Connectivity

In other news, EVP John S. Jenkins sold 30,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. The trade was a 54.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Up 0.5 %

Shares of NYSE TEL traded up $0.73 during trading hours on Friday, hitting $152.85. The company had a trading volume of 2,077,251 shares, compared to its average volume of 1,685,367. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average is $140.51 and its 200-day moving average is $146.13. The stock has a market capitalization of $45.33 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 EPS. On average, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Analysts Set New Price Targets

Several brokerages recently commented on TEL. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a report on Thursday, April 24th. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. UBS Group reiterated a "buy" rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $159.50.

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.