TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its holdings in TE Connectivity by 30.9% to own approximately 2.18 million shares, valued at around $307.85 million as of the latest SEC filing.
• TE Connectivity recently reported earnings of $2.27 per share, exceeding expectations of $2.08, along with a revenue of $4.53 billion for the quarter, marking a 13.9% increase year-over-year.
• The company announced a quarterly dividend of $0.71 per share, which reflects an annualized payout of $2.84 and a yield of 1.4%.

JPMorgan Chase & Co. lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 30.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,178,401 shares of the electronics maker's stock after acquiring an additional 514,305 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.73% of TE Connectivity worth $307,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TEL. Costello Asset Management INC acquired a new stake in TE Connectivity in the first quarter valued at approximately $28,000. Millstone Evans Group LLC purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $32,000. North Capital Inc. purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $46,000. Global X Japan Co. Ltd. purchased a new position in shares of TE Connectivity during the first quarter valued at approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC boosted its position in shares of TE Connectivity by 650.8% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after buying an additional 423 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Up 0.4%

Shares of TEL stock traded up $0.89 during trading on Thursday, hitting $207.18. 1,130,040 shares of the stock traded hands, compared to its average volume of 2,244,361. The firm has a market capitalization of $61.22 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The firm's fifty day moving average price is $181.87 and its 200-day moving average price is $159.28. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm earned $1.91 EPS. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business 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. This represents a $2.84 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is 58.80%.

Insider Activity at TE Connectivity

In other news, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction on 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 approximately $977,155.20. The trade was a 29.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the transaction, the executive vice president owned 24,625 shares of the company's stock, valued at $5,154,751.25. This represents a 65.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,795 shares of company stock worth $26,401,597 over the last quarter. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEL. KGI Securities raised TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Bank of America upped their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $197.55.

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.