Foster & Motley Inc. Has $3.37 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Foster & Motley Inc. increased its stake in TE Connectivity by 22.0% in Q1, owning 23,845 shares valued at $3.37 million, following a purchase of 4,298 additional shares.
• TE Connectivity reported EPS of $2.27 for the latest quarter, exceeding expectations of $2.08, and achieved revenues of $4.53 billion, up 13.9% compared to the previous year.
• The company announced a quarterly dividend of $0.71, with a yield of 1.38%, to be paid on September 12th, after the ex-dividend date on August 22nd.

Foster & Motley Inc. raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 22.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,845 shares of the electronics maker's stock after buying an additional 4,298 shares during the period. Foster & Motley Inc.'s holdings in TE Connectivity were worth $3,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Woodline Partners LP acquired a new position in TE Connectivity during the fourth quarter valued at approximately $127,351,000. GAMMA Investing LLC raised its stake in shares of TE Connectivity by 21,927.9% during the first quarter. GAMMA Investing LLC now owns 703,350 shares of the electronics maker's stock valued at $99,397,000 after purchasing an additional 700,157 shares during the period. Point72 Asset Management L.P. raised its stake in shares of TE Connectivity by 1,089.8% during the fourth quarter. Point72 Asset Management L.P. now owns 730,864 shares of the electronics maker's stock valued at $104,492,000 after purchasing an additional 669,435 shares during the period. Royal Bank of Canada raised its stake in shares of TE Connectivity by 95.4% during the fourth quarter. Royal Bank of Canada now owns 1,277,319 shares of the electronics maker's stock valued at $182,618,000 after purchasing an additional 623,652 shares during the period. Finally, Northern Trust Corp raised its stake in shares of TE Connectivity by 29.3% during the fourth quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock valued at $384,739,000 after purchasing an additional 610,571 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TE Connectivity news, EVP John S. Jenkins sold 45,850 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $209.33, for a total value of $9,597,780.50. Following the completion of the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at approximately $5,154,751.25. This represents a 65.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the sale, the senior vice president directly owned 4,716 shares of the company's stock, valued at $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,470 shares of company stock worth $45,313,205 in the last ninety days. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEL shares. Citigroup lifted their price objective on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial lifted their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird lifted their price target on shares of TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Stock Performance

Shares of TEL traded down $4.10 during midday trading on Friday, hitting $201.65. 2,931,353 shares of the stock traded hands, compared to its average volume of 2,090,393. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76. The firm has a market capitalization of $59.58 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.23. 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 business's 50 day moving average price is $174.32 and its two-hundred day moving average price is $155.97.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during 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 company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 earnings per share. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is presently 58.80%.

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.