Madison Asset Management LLC grew its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 132,258 shares of the electronics maker's stock after buying an additional 15,413 shares during the quarter. Madison Asset Management LLC's holdings in TE Connectivity were worth $18,691,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of TE Connectivity by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock worth $2,479,000 after buying an additional 192 shares during the period. J. Safra Sarasin Holding AG lifted its stake in TE Connectivity by 128.4% in the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock valued at $2,219,000 after acquiring an additional 8,728 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its stake in TE Connectivity by 61.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock valued at $1,587,000 after acquiring an additional 4,214 shares in the last quarter. NEOS Investment Management LLC raised its stake in shares of TE Connectivity by 29.8% during the 4th quarter. NEOS Investment Management LLC now owns 16,254 shares of the electronics maker's stock worth $2,324,000 after purchasing an additional 3,728 shares in the last quarter. Finally, 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 purchasing an additional 592,072 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, SVP Malavika Sagar sold 3,125 shares of TE Connectivity 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 sale, the senior vice president owned 5,927 shares of the company's stock, valued at $948,320. The trade was a 34.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the transaction, the insider owned 23,667 shares in the company, valued at $4,562,524.26. This trade represents a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 240,675 shares of company stock worth $39,794,121 over the last quarter. Company insiders own 0.90% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on TEL shares. JPMorgan Chase & Co. increased their price target on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday. KGI Securities raised TE Connectivity to a "hold" rating in a report on Thursday. Robert W. Baird increased their target price on TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a report on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Finally, Bank of America increased their target price on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $194.80.
Check Out Our Latest Stock Report on TE Connectivity
TE Connectivity Price Performance
NYSE TEL traded up $2.06 during trading on Friday, reaching $207.66. The company's stock had a trading volume of 2,069,221 shares, compared to its average volume of 1,993,890. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 1.08. The stock has a market capitalization of $61.58 billion, a PE ratio of 42.99, a P/E/G ratio of 2.49 and a beta of 1.23. The firm has a fifty day moving average of $169.73 and a 200 day moving average of $153.77. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $208.17.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $1.91 EPS. TE Connectivity's revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is presently 58.80%.
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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