Johnson Investment Counsel Inc. Invests $455,000 in TE Connectivity Ltd. (NYSE:TEL)

Johnson Investment Counsel Inc. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,223 shares of the electronics maker's stock, valued at approximately $455,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SRS Capital Advisors Inc. boosted its position in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter worth about $43,000. Deseret Mutual Benefit Administrators acquired a new position in shares of TE Connectivity during the 4th quarter worth about $57,000. Loomis Sayles & Co. L P increased its stake in shares of TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 123 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in shares of TE Connectivity by 150.0% in the 4th quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 300 shares during the period. 91.43% of the stock is owned by institutional investors.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the firm's stock in a transaction on Monday, May 12th. The shares were 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 directly owns 5,927 shares of the company's stock, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on 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 now owns 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TEL has been the subject of several recent analyst reports. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research note on Thursday, April 24th. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Friday, April 25th. Truist Financial reduced their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Robert W. Baird increased their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus price target of $162.50.

TE Connectivity Stock Down 0.4%

Shares of TE Connectivity stock opened at $163.19 on Monday. The firm has a market cap of $48.40 billion, a PE ratio of 35.87, a P/E/G ratio of 2.13 and a beta of 1.23. The business's 50 day simple moving average is $153.80 and its 200 day simple moving average is $148.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $167.94.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. On average, analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal 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 issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.

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.

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