Chicago Partners Investment Group LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,793 shares of the electronics maker's stock, valued at approximately $302,000.
Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in TE Connectivity by 17.0% during the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock worth $5,353,401,000 after purchasing an additional 5,502,415 shares during the last quarter. Dodge & Cox raised its position in TE Connectivity by 0.4% during the first quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker's stock worth $2,264,297,000 after acquiring an additional 56,871 shares in the last quarter. Wellington Management Group LLP raised its position in TE Connectivity by 17.2% during the first quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker's stock worth $1,054,133,000 after acquiring an additional 1,097,035 shares in the last quarter. Ameriprise Financial Inc. raised its position in TE Connectivity by 17.1% during the first quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker's stock worth $927,571,000 after acquiring an additional 960,276 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in TE Connectivity by 5.8% during the first quarter. EdgePoint Investment Group Inc. now owns 4,108,472 shares of the electronics maker's stock worth $580,609,000 after acquiring an additional 224,422 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on TEL. Bank of America upped their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Weiss Ratings reiterated a "hold (c+)" rating on shares of TE Connectivity in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Evercore ISI upped their price objective on shares of TE Connectivity from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Monday, October 20th. Finally, Citigroup upped their price target on shares of TE Connectivity from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $222.00.
Check Out Our Latest Stock Analysis on TE Connectivity
TE Connectivity Price Performance
NYSE:TEL opened at $235.66 on Friday. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $237.63. The firm has a market cap of $69.63 billion, a price-to-earnings ratio of 48.79, a P/E/G ratio of 2.52 and a beta of 1.26. The firm's 50-day simple moving average is $215.12 and its 200 day simple moving average is $183.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.
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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity's dividend payout ratio is presently 58.80%.
Insiders Place Their Bets
In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the transaction, the executive vice president directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. This trade represents a 65.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,645 shares of company stock worth $14,842,096 over the last ninety days. Corporate insiders own 0.90% of the company's stock.
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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