Haven Private LLC Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Haven Private LLC acquired a new position in TE Connectivity Ltd., purchasing 2,439 shares valued at approximately $345,000 during the first quarter.
• TE Connectivity recently reported earnings of $2.27 per share for the last quarter, exceeding analysts' expectations of $2.08, with revenue rising 13.9% year-over-year.
• The company declared a quarterly dividend of $0.71 per share, with the dividend yield currently at 1.4%.

Haven Private LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,439 shares of the electronics maker's stock, valued at approximately $345,000.

Other institutional investors have also modified their holdings of the company. Ballentine Partners LLC boosted its holdings in shares of TE Connectivity by 1.4% in the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares in the last quarter. Vista Investment Management boosted its holdings in TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after buying an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in TE Connectivity by 2.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after buying an additional 75 shares in the last quarter. Wedmont Private Capital lifted its position in shares of TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 80 shares in the last quarter. Finally, AllSquare Wealth Management LLC lifted its position in shares of TE Connectivity by 7.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock valued at $180,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TEL shares. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. KGI Securities raised shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Friday, April 25th. Bank of America lifted their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Citigroup lifted their target price on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

Insider Buying and Selling at TE Connectivity

In other news, SVP Malavika Sagar sold 1,945 shares of TE Connectivity 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 sale, the senior vice president directly owned 4,716 shares in the company, valued at approximately $977,155.20. The trade was a 29.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the sale, the insider owned 23,667 shares in the company, valued at approximately $4,562,524.26. This trade represents a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,470 shares of company stock worth $45,313,205 in the last 90 days. 0.90% of the stock is currently owned by insiders.

TE Connectivity Stock Performance

NYSE TEL traded down $2.59 during midday trading on Tuesday, hitting $201.41. The company had a trading volume of 514,403 shares, compared to its average volume of 1,858,379. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The stock has a market cap of $59.51 billion, a price-to-earnings ratio of 41.72, a P/E/G ratio of 2.42 and a beta of 1.23. The firm has a fifty day simple moving average of $175.25 and a two-hundred day simple moving average of $156.54. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly 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. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $1.91 EPS. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is 58.80%.

About TE Connectivity

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.