First Pacific Advisors LP grew its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,683,212 shares of the electronics maker's stock after buying an additional 20,773 shares during the period. TE Connectivity accounts for 6.1% of First Pacific Advisors LP's investment portfolio, making the stock its 6th largest position. First Pacific Advisors LP owned about 0.90% of TE Connectivity worth $379,192,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC raised its holdings in shares of TE Connectivity by 1.4% in the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares in the last quarter. Vista Investment Management raised its holdings in shares of TE Connectivity by 0.5% in the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after acquiring an additional 75 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 80 shares in the last quarter. Finally, AllSquare Wealth Management LLC raised its holdings in shares of TE Connectivity by 7.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock valued at $180,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
TE Connectivity Price Performance
Shares of TEL stock traded up $0.93 during trading hours on Monday, reaching $208.99. The company had a trading volume of 928,401 shares, compared to its average volume of 1,847,659. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The stock has a fifty day moving average of $169.73 and a 200-day moving average of $153.91. The company has a market capitalization of $61.98 billion, a price-to-earnings ratio of 43.27, a PEG ratio of 2.52 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $209.34.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business posted $1.91 earnings per share. The company's quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 58.80%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on TEL. Citigroup raised their price target on TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a report on Thursday. Truist Financial boosted their price target on TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $194.80.
View Our Latest Analysis on TEL
Insider Transactions at TE Connectivity
In other TE Connectivity 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 transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president directly owned 24,625 shares in the company, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,675 shares of company stock valued at $39,794,121 over the last ninety days. Company insiders own 0.90% of the company's stock.
TE Connectivity Profile
(
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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