Phoenix Financial Ltd. bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,495 shares of the electronics maker's stock, valued at approximately $252,000.
Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of TE Connectivity by 54.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,605,782 shares of the electronics maker's stock worth $269,723,000 after acquiring an additional 565,857 shares in the last quarter. Foresight Group Ltd Liability Partnership bought a new position in shares of TE Connectivity in the 1st quarter worth about $31,983,000. Ascent Group LLC bought a new position in shares of TE Connectivity in the 1st quarter worth about $364,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of TE Connectivity by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock valued at $2,479,000 after buying an additional 192 shares during the period. Finally, KLP Kapitalforvaltning AS grew its stake in shares of TE Connectivity by 3.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 110,533 shares of the electronics maker's stock valued at $18,686,000 after buying an additional 3,700 shares during the period. 91.43% of the stock is owned by institutional investors.
Insider Activity
In other news, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the transaction, the senior vice president directly owned 4,716 shares of the company's stock, valued at approximately $977,155.20. This represents a 29.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the completion of the transaction, the insider directly owned 25,976 shares of the company's stock, valued at approximately $5,272,868.24. The trade was a 47.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,645 shares of company stock valued at $14,842,096. Insiders own 0.90% of the company's stock.
TE Connectivity Stock Up 0.3%
Shares of NYSE:TEL opened at $228.99 on Thursday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $237.50. The firm has a fifty day moving average of $213.92 and a 200 day moving average of $181.74. The firm has a market capitalization of $67.66 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business earned $1.91 earnings per share. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity's dividend payout ratio is presently 58.80%.
Wall Street Analyst Weigh In
TEL has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Evercore ISI boosted their target price on TE Connectivity from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday. KGI Securities upgraded TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lifted their price target on shares of TE Connectivity from $228.00 to $263.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Finally, Wall Street Zen cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus price target of $222.00.
Get 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.
Further Reading
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