Banque Cantonale Vaudoise Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Banque Cantonale Vaudoise acquired 3,681 shares of TE Connectivity Ltd., investing approximately $521,000 in the first quarter of 2023.
• Several **investment firms and hedge funds** have recently increased their stakes in TE Connectivity, highlighting strong institutional interest in the company.
• TE Connectivity reported **earnings** of $2.27 per share for the last quarter, surpassing analysts' expectations, and declared a **quarterly dividend** of $0.71 per share, reflecting an annual yield of 1.4%.

Banque Cantonale Vaudoise acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,681 shares of the electronics maker's stock, valued at approximately $521,000.

A number of other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. grew 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 valued at $801,101,000 after acquiring an additional 592,072 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in TE Connectivity by 15.3% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock worth $555,303,000 after buying an additional 516,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in TE Connectivity by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,224,564 shares of the electronics maker's stock worth $461,013,000 after buying an additional 30,793 shares during the period. Northern Trust Corp boosted its holdings in TE Connectivity by 29.3% in the 4th quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock worth $384,739,000 after buying an additional 610,571 shares during the period. Finally, First Pacific Advisors LP boosted its holdings in TE Connectivity by 0.8% in the 1st quarter. First Pacific Advisors LP now owns 2,683,212 shares of the electronics maker's stock worth $379,192,000 after buying an additional 20,773 shares during the period. Institutional investors own 91.43% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" 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 price objective for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.

TE Connectivity Price Performance

Shares of TEL traded down $2.53 during mid-day trading on Tuesday, hitting $201.47. 2,062,220 shares of the company were exchanged, compared to its average volume of 1,869,511. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76. The stock has a market cap of $59.53 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The company has a 50 day moving average of $175.25 and a 200-day moving average of $156.54.

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. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business earned $1.91 EPS. The company's revenue was up 13.9% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

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

Insider Activity

In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the transaction, the chief financial officer directly owned 45,503 shares in the company, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the sale, the senior vice president directly owned 5,927 shares in the company, valued at $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,470 shares of company stock valued at $45,313,205 in the last ninety days. 0.90% of the stock is owned by company insiders.

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.