Asset Management One Co. Ltd. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,149 shares of the electronics maker's stock after buying an additional 6,330 shares during the period. Asset Management One Co. Ltd.'s holdings in TE Connectivity were worth $18,110,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after buying an additional 841 shares in the last quarter. J. Safra Sarasin Holding AG boosted its holdings 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 valued at $2,219,000 after buying an additional 8,728 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of TE Connectivity by 48.8% during the 4th quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock valued at $160,000 after buying an additional 368 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of TE Connectivity by 3.3% during the 4th quarter. QRG Capital Management Inc. now owns 108,161 shares of the electronics maker's stock valued at $15,464,000 after buying an additional 3,432 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC raised its position in shares of TE Connectivity by 61.2% in 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 last quarter. Institutional investors own 91.43% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on TEL shares. Citigroup lowered their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group lifted their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their price target on TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $162.50.
Check Out Our Latest Stock Analysis on TE Connectivity
Insider Activity
In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. This represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock valued at $27,369,059 in the last quarter. 0.90% of the stock is currently owned by insiders.
TE Connectivity Price Performance
Shares of NYSE:TEL opened at $168.04 on Thursday. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $168.49. The business has a 50-day simple moving average of $156.08 and a two-hundred day simple moving average of $148.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The firm has a market cap of $49.83 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Dividend Announcement
The firm also recently declared 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 1.69%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is currently 62.42%.
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.
See Also
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).
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