Benjamin Edwards Inc. raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 45.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,781 shares of the electronics maker's stock after buying an additional 2,133 shares during the period. Benjamin Edwards Inc.'s holdings in TE Connectivity were worth $958,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in TE Connectivity by 1.1% during the first 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 last quarter. J. Safra Sarasin Holding AG raised 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. Beverly Hills Private Wealth LLC lifted its position in 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 buying an additional 4,214 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in TE Connectivity by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in TE Connectivity during the fourth quarter valued at approximately $820,000. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Transactions at TE Connectivity
In related news, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction that occurred on Monday, July 28th. The stock was 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 $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This trade represents a 69.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,795 shares of company stock worth $26,401,597 over the last 90 days. 0.90% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on TEL shares. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Citigroup lifted their price objective on TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Vertical Research raised 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $197.55.
Check Out Our Latest Research Report on TEL
TE Connectivity Price Performance
Shares of TE Connectivity stock opened at $206.20 on Thursday. The business has a 50 day moving average of $180.97 and a 200 day moving average of $158.89. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $212.76. The company has a market cap of $60.93 billion, a PE ratio of 42.69, a P/E/G ratio of 2.44 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during 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 for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Announces Dividend
The company 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 $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio is currently 58.80%.
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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