Janney Montgomery Scott LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 161,132 shares of the electronics maker's stock after acquiring an additional 27,795 shares during the period. Janney Montgomery Scott LLC owned 0.05% of TE Connectivity worth $22,771,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optas LLC lifted its holdings in shares of TE Connectivity by 9.4% in the 1st quarter. Optas LLC now owns 1,912 shares of the electronics maker's stock worth $270,000 after purchasing an additional 165 shares in the last quarter. Asio Capital LLC raised its holdings in TE Connectivity by 2.0% during the first quarter. Asio Capital LLC now owns 25,817 shares of the electronics maker's stock worth $3,648,000 after buying an additional 514 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of TE Connectivity by 2.9% in the first quarter. Brighton Jones LLC now owns 5,904 shares of the electronics maker's stock valued at $834,000 after buying an additional 168 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of TE Connectivity by 7.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,705 shares of the electronics maker's stock valued at $5,470,000 after buying an additional 2,691 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its position in shares of TE Connectivity by 0.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 19,026 shares of the electronics maker's stock worth $2,689,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 91.43% of the company's stock.
TE Connectivity Stock Performance
TEL traded down $0.03 during trading hours on Thursday, hitting $163.63. The stock had a trading volume of 1,450,048 shares, compared to its average volume of 1,708,268. The company's fifty day simple moving average is $152.37 and its 200 day simple moving average is $148.38. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $167.94. The stock has a market cap of $48.52 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm's revenue for the quarter 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. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share 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 paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. TE Connectivity's dividend payout ratio is presently 62.42%.
Analysts Set New Price Targets
TEL has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Robert W. Baird upped their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Citigroup lowered their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.50.
View Our Latest Analysis on TE Connectivity
Insider Buying and Selling at TE Connectivity
In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the transaction, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% 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, insider Shadrak W. Kroeger sold 25,000 shares of the company'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 completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $4,130,963.28. This represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock worth $27,369,059 over the last 90 days. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Profile
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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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