Legacy Capital Group California Inc. Invests $855,000 in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Legacy Capital Group California Inc. acquired a new stake in TE Connectivity Ltd., purchasing 6,051 shares valued at approximately $855,000 during the first quarter.
• Several institutional investors, including Ameriprise Financial and EdgePoint Investment Group, have increased their holdings in TE Connectivity, resulting in 91.43% of the company's stock now being owned by such entities.
• TE Connectivity recently reported a quarterly earnings per share of $2.27, exceeding analysts' expectations, alongside a 13.9% year-over-year revenue increase of $4.53 billion.

Legacy Capital Group California Inc. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,051 shares of the electronics maker's stock, valued at approximately $855,000.

Several other large investors have also made changes to their positions in TEL. Ballentine Partners LLC raised its position 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 buying an additional 68 shares during the last quarter. Vista Investment Management grew its stake in TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after acquiring an additional 75 shares during the last quarter. Wedmont Private Capital lifted its stake in TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after purchasing an additional 80 shares in the last quarter. Finally, AllSquare Wealth Management LLC boosted its holdings in shares of TE Connectivity by 7.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock worth $180,000 after purchasing an additional 83 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Down 0.0%

Shares of NYSE:TEL traded down $0.01 during trading on Thursday, hitting $200.04. The company's stock had a trading volume of 1,219,861 shares, compared to its average volume of 2,299,662. The company has a market capitalization of $59.11 billion, a PE ratio of 41.42, a P/E/G ratio of 2.39 and a beta of 1.23. The business has a 50 day moving average price of $177.61 and a two-hundred day moving average price of $157.52. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76. 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 posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company earned $1.91 EPS. TE Connectivity's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is 58.80%.

Insider Buying and Selling at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total value of $10,198,062.00. Following the transaction, the insider owned 23,667 shares in the company, valued at approximately $4,562,524.26. This represents a 69.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Heath A. Mitts sold 53,306 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer owned 45,503 shares of the company's stock, valued at approximately $7,244,532.63. The trade was a 53.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,470 shares of company stock worth $45,313,205. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TEL has been the subject of several recent research reports. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. UBS Group raised their target price on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Citigroup upped their price objective on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Thursday, April 24th. Finally, Bank of America boosted their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.80.

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.