Breakwater Capital Group Buys New Shares in TE Connectivity Ltd. (NYSE:TEL)

Breakwater Capital Group bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,587 shares of the electronics maker's stock, valued at approximately $224,000.

Several other institutional investors have also recently bought and sold shares of TEL. Wellington Management Group LLP bought a new position in TE Connectivity in the 4th quarter worth $909,598,000. Vanguard Group Inc. increased its holdings in shares of TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Norges Bank bought a new position in shares of TE Connectivity during the 4th quarter worth about $508,199,000. Clearbridge Investments LLC increased its holdings in shares of TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the period. Finally, Amundi bought a new position in shares of TE Connectivity during the 4th quarter worth about $159,992,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 1.5%

TEL traded up $2.39 during mid-day trading on Friday, reaching $164.71. The stock had a trading volume of 1,149,137 shares, compared to its average volume of 1,707,071. The stock has a market capitalization of $48.84 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm's fifty day simple moving average is $146.59 and its two-hundred day simple moving average is $147.61. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $165.15.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company earned $1.86 EPS. The business's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TEL shares. Citigroup decreased their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. UBS Group lifted their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and an average target price of $162.50.

Insiders Place Their Bets

In other TE Connectivity news, CFO Heath A. Mitts sold 37,844 shares of TE Connectivity stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the sale, the chief financial officer now owns 45,503 shares of the company's stock, valued at $6,976,974.99. This trade represents a 45.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,675 shares of company stock worth $27,369,059. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Company 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.