Moran Wealth Management LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,526 shares of the electronics maker's stock, valued at approximately $7,140,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vista Investment Management raised its holdings in shares of TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after acquiring an additional 75 shares during the period. Modera Wealth Management LLC lifted its holdings in TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock valued at $409,000 after acquiring an additional 78 shares during the period. Wedmont Private Capital raised its stake in shares of TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after buying an additional 80 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock worth $2,002,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Buying and Selling
In related news, CFO Heath A. Mitts sold 37,844 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at $6,976,974.99. This represents a 45.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,675 shares of company stock valued at $27,369,059. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Price Performance
Shares of TEL stock opened at $166.57 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. The company has a market cap of $49.40 billion, a P/E ratio of 36.61, a PEG ratio of 2.17 and a beta of 1.23. The stock's 50-day moving average is $155.26 and its 200 day moving average is $148.68. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $167.94.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly 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 company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. TE Connectivity's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.86 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 yield of 1.70%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.
Analyst Ratings Changes
A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. UBS Group boosted their target price on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup cut their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and a consensus target price of $162.50.
View Our Latest Stock Report on TE Connectivity
About TE Connectivity
(
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.
Read More
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
