AE Wealth Management LLC increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 56,737 shares of the electronics maker's stock after purchasing an additional 5,008 shares during the period. AE Wealth Management LLC's holdings in TE Connectivity were worth $8,018,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of TE Connectivity by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock worth $2,479,000 after purchasing an additional 192 shares during the period. J. Safra Sarasin Holding AG boosted its position in shares of TE Connectivity by 128.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after purchasing an additional 8,728 shares during the period. Beverly Hills Private Wealth LLC boosted its position in shares of TE Connectivity by 61.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock worth $1,587,000 after purchasing an additional 4,214 shares during the period. NEOS Investment Management LLC boosted its position in shares of TE Connectivity by 29.8% during the 4th quarter. NEOS Investment Management LLC now owns 16,254 shares of the electronics maker's stock worth $2,324,000 after purchasing an additional 3,728 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after purchasing an additional 592,072 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Transactions at TE Connectivity
In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $4,130,963.28. This trade represents a 49.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 23,667 shares in the company, valued at $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. Over the last three months, insiders sold 240,675 shares of company stock worth $39,794,121. Insiders own 0.90% of the company's stock.
TE Connectivity Stock Up 0.5%
Shares of TEL traded up $0.94 during midday trading on Monday, reaching $209.00. The stock had a trading volume of 637,128 shares, compared to its average volume of 1,845,520. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $208.92. The company's fifty day simple moving average is $169.73 and its two-hundred day simple moving average is $153.91. The company has a market cap of $61.98 billion, a price-to-earnings ratio of 43.25, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. The business 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 company's revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $1.91 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is 58.80%.
Analyst Ratings Changes
TEL has been the topic of a number of research reports. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Bank of America increased their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Wells Fargo & Company increased their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a report on Thursday. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Thursday, April 24th. Finally, Citigroup increased their target price on shares of TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $194.80.
View Our Latest Research Report on TEL
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.
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