Centiva Capital LP purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,920 shares of the electronics maker's stock, valued at approximately $417,000.
A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Wellington Management Group LLP bought a new position in TE Connectivity during the fourth quarter worth $909,598,000. Geode Capital Management LLC raised its stake in TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after buying an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. raised its stake in TE Connectivity by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on TEL. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target 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 price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $159.50.
View Our Latest Research Report on TEL
TE Connectivity Stock Down 0.8%
Shares of NYSE:TEL traded down $1.31 during midday trading on Wednesday, hitting $161.08. 1,712,829 shares of the company's stock were exchanged, compared to its average volume of 1,694,092. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock has a 50 day moving average price of $141.11 and a 200-day moving average price of $146.37. The company has a market cap of $47.77 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $163.39.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the company earned $1.86 earnings per share. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 yield of 1.76%. This is an increase 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 is presently 62.42%.
Insiders Place Their Bets
In other news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president now directly owns 5,927 shares of the company's stock, valued at $948,320. This represents a 34.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the transaction, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $4,010,181.25. This represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,675 shares of company stock valued at $27,062,559. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Company Profile
(
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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