TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. increased its holdings in TE Connectivity Ltd. by 146.7% in the first quarter, now owning 75,665 shares worth approximately $10.69 million.
• Several hedge funds have aggressively positioned in TE Connectivity, with Wellington Management Group acquiring over $909 million worth of shares in the last quarter alone.
• Wall Street analysts have raised their price targets for TE Connectivity, with an average target of $194.80 and a consensus rating of "Moderate Buy".

Heartland Advisors Inc. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 146.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,665 shares of the electronics maker's stock after purchasing an additional 44,997 shares during the period. Heartland Advisors Inc.'s holdings in TE Connectivity were worth $10,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in shares of TE Connectivity during the 1st quarter worth approximately $32,000. North Capital Inc. purchased a new stake in shares of TE Connectivity during the 1st quarter worth approximately $46,000. Global X Japan Co. Ltd. purchased a new stake in shares of TE Connectivity during the 1st quarter worth approximately $47,000. Bartlett & CO. Wealth Management LLC boosted its stake in shares of TE Connectivity by 650.8% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after acquiring an additional 423 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock worth $71,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at approximately $4,130,963.28. This represents a 49.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the completion of the sale, the insider owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This represents a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,470 shares of company stock worth $49,794,905. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their target price on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research note on Thursday, April 24th. Finally, Bank of America upped their target price on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

TE Connectivity Trading Down 0.6%

Shares of TEL stock traded down $1.17 on Wednesday, reaching $208.01. 778,629 shares of the stock were exchanged, compared to its average volume of 1,846,946. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The stock has a market cap of $61.46 billion, a P/E ratio of 43.07, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The firm has a 50 day moving average of $171.57 and a two-hundred day moving average of $154.76. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

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 given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 58.80%.

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.