LPL Financial LLC Grows Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• LPL Financial LLC increased its stake in TE Connectivity Ltd. by 2.0% during the first quarter, owning approximately 331,591 shares valued at $46.86 million.
• A comprehensive analysis shows that TE Connectivity has received multiple upgrades from research analysts, with Citigroup raising its price target from $200 to $230 and a consensus rating of "Moderate Buy."
• TE Connectivity reported earnings of $2.27 per share for the last quarter, surpassing analysts' estimates of $2.08, and its revenue grew by 13.9% year-over-year to $4.53 billion.

LPL Financial LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 331,591 shares of the electronics maker's stock after buying an additional 6,538 shares during the period. LPL Financial LLC owned approximately 0.11% of TE Connectivity worth $46,860,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after purchasing an additional 33,340 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of TE Connectivity by 15.3% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock valued at $555,303,000 after buying an additional 516,400 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of TE Connectivity by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,224,564 shares of the electronics maker's stock valued at $461,013,000 after buying an additional 30,793 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in TE Connectivity by 29.3% during the fourth quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock worth $384,739,000 after acquiring an additional 610,571 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KGI Securities raised TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Truist Financial raised their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Citigroup upped their target price on shares of TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Vertical Research upgraded 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. Finally, Bank of America boosted their price target on TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Trading Down 0.7%

Shares of TE Connectivity stock opened at $205.23 on Friday. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $212.76. 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 business has a 50 day moving average price of $173.44 and a 200 day moving average price of $155.56. The company has a market capitalization of $60.64 billion, a P/E ratio of 42.49, a P/E/G ratio of 2.47 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 earnings per share. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 58.80%.

Insider Activity at TE Connectivity

In other news, EVP John S. Jenkins sold 45,850 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $209.33, for a total value 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. The trade was a 65.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Heath A. Mitts sold 53,306 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer owned 45,503 shares in the company, valued at approximately $7,244,532.63. This trade represents a 53.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,470 shares of company stock worth $45,313,205 over the last three months. Company insiders own 0.90% of the company's stock.

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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