Charter Oak Capital Management LLC Purchases New Position in TE Connectivity Ltd. (NYSE:TEL)

Charter Oak Capital Management LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,563 shares of the electronics maker's stock, valued at approximately $1,069,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedmont Private Capital boosted its holdings in TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after buying an additional 80 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in TE Connectivity in the first quarter valued at about $213,000. Piscataqua Savings Bank lifted its position in TE Connectivity by 1.7% in the first quarter. Piscataqua Savings Bank now owns 10,904 shares of the electronics maker's stock valued at $1,541,000 after purchasing an additional 177 shares during the period. Gateway Investment Advisers LLC lifted its position in TE Connectivity by 13.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,936 shares of the electronics maker's stock valued at $415,000 after purchasing an additional 351 shares during the period. Finally, Procyon Advisors LLC lifted its position in TE Connectivity by 1,001.0% in the first quarter. Procyon Advisors LLC now owns 17,671 shares of the electronics maker's stock valued at $2,497,000 after purchasing an additional 16,066 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TEL shares. JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. HSBC raised 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. UBS Group boosted their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Friday, April 25th. Finally, Citigroup dropped their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $162.50.

TE Connectivity Trading Up 1.5%

Shares of TE Connectivity stock opened at $164.71 on Friday. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $165.15. The company has a market cap of $48.84 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.11 and a beta of 1.23. 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 company's 50-day moving average price is $146.59 and its 200-day moving average price is $147.61.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter last year, the business earned $1.86 earnings per share. The business's revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

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

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 25,976 shares of the company's stock, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president now directly owns 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 174,675 shares of company stock worth $27,369,059 over the last quarter. Company insiders own 0.90% of the company's stock.

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.

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