GAMMA Investing LLC increased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 55.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,977 shares of the electronics maker's stock after buying an additional 1,784 shares during the quarter. GAMMA Investing LLC's holdings in TE Connectivity were worth $703,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in TE Connectivity by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock worth $949,000 after buying an additional 841 shares during the period. J. Safra Sarasin Holding AG grew its stake in shares of TE Connectivity by 128.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after purchasing an additional 8,728 shares during the period. New York State Common Retirement Fund grew its stake in shares of TE Connectivity by 48.8% during the 4th quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock worth $160,000 after purchasing an additional 368 shares during the period. Beverly Hills Private Wealth LLC grew its stake in shares of TE Connectivity by 61.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock worth $1,587,000 after purchasing an additional 4,214 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of TE Connectivity by 23.5% during the 4th quarter. Jones Financial Companies Lllp now owns 3,305 shares of the electronics maker's stock worth $473,000 after purchasing an additional 628 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.
Insider Transactions at TE Connectivity
In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the firm'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 sale, the chief financial officer owned 45,503 shares of the company's stock, valued at approximately $7,244,532.63. This trade represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John S. Jenkins sold 20,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the sale, the executive vice president directly owned 24,625 shares in the company, valued at approximately $4,010,181.25. The trade was a 45.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,775 shares of company stock valued at $29,596,059 over the last quarter. Insiders own 0.90% of the company's stock.
TE Connectivity Trading Up 0.5%
NYSE TEL traded up $0.88 during trading on Friday, hitting $174.29. The stock had a trading volume of 584,980 shares, compared to its average volume of 1,714,361. The company has a market capitalization of $51.69 billion, a PE ratio of 38.31, a PEG ratio of 2.28 and a beta of 1.23. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $160.53 and a 200 day moving average price of $149.64. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $175.03.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.63%. TE Connectivity's dividend payout ratio (DPR) is 62.42%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on TEL. Truist Financial dropped their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen lowered TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Wells Fargo & Company raised their price objective on TE Connectivity from $156.00 to $170.00 and gave the company an "equal weight" rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, TE Connectivity currently has an average rating of "Moderate Buy" and an average price target of $163.90.
Check Out Our Latest Stock Report on TE Connectivity
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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