KBC Group NV lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,525 shares of the electronics maker's stock after selling 2,640 shares during the quarter. KBC Group NV's holdings in TE Connectivity were worth $9,401,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after purchasing an additional 841 shares during the period. J. Safra Sarasin Holding AG grew its holdings in shares of TE Connectivity by 128.4% during the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock valued at $2,219,000 after buying an additional 8,728 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in TE Connectivity by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock valued at $2,479,000 after buying an additional 192 shares during the period. New York State Common Retirement Fund lifted its stake in TE Connectivity by 48.8% in the 4th quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock worth $160,000 after acquiring an additional 368 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC boosted its position in 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 acquiring an additional 4,214 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Activity
In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer directly owned 45,503 shares in the company, valued at $7,244,532.63. This trade represents a 53.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at $4,130,963.28. This represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,775 shares of company stock worth $29,596,059. Corporate insiders own 0.90% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on TEL. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Friday, April 25th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $156.00 to $170.00 and gave the company an "equal weight" rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $163.90.
View Our Latest Stock Analysis on TE Connectivity
TE Connectivity Stock Performance
TEL stock traded up $0.88 during mid-day trading on Friday, reaching $174.29. 584,980 shares of the stock traded hands, compared to its average volume of 1,714,361. The firm has a market capitalization of $51.69 billion, a PE ratio of 38.31, a P/E/G ratio of 2.27 and a beta of 1.23. The business has a 50-day moving average of $160.53 and a two-hundred day moving average of $149.64. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $175.03. 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 (NYSE:TEL - Get Free Report) last announced 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 firm 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%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 EPS. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS 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 given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.
TE Connectivity Company 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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