BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,960 shares of the electronics maker's stock after purchasing an additional 21,288 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of TE Connectivity worth $37,452,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of TEL. Vanguard Group Inc. boosted its holdings in TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the period. Wellington Management Group LLP bought a new position in shares of TE Connectivity in the fourth quarter worth $909,598,000. Geode Capital Management LLC grew its position in shares of TE Connectivity by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after purchasing an additional 33,340 shares in the last quarter. Ameriprise Financial Inc. raised its stake 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 purchasing an additional 592,072 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after buying an additional 1,702,825 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on TEL. Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and an average price target of $160.30.
Check Out Our Latest Analysis on TEL
TE Connectivity Stock Performance
Shares of NYSE:TEL opened at $162.69 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm's 50-day moving average is $142.84 and its 200 day moving average is $146.80. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $164.11. The company has a market capitalization of $48.25 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.11 and a beta of 1.24.
TE Connectivity (NYSE:TEL - Get Free Report) last announced 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. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 earnings per share. Research 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 issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.
Insider Buying and Selling
In related news, CFO Heath A. Mitts sold 53,306 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 45,503 shares in the company, valued at $7,244,532.63. The trade was 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 that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the sale, the senior vice president now directly owns 5,927 shares of the company's stock, valued at $948,320. The trade was a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock worth $27,062,559 in the last three months. 0.90% of the stock is owned by insiders.
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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