National Pension Service Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• The National Pension Service increased its stake in TE Connectivity Ltd. by 5.2% to approximately $115.4 million, owning 816,581 shares as reported in its latest SEC filing.
• TE Connectivity reported quarterly earnings of $2.27 per share, surpassing estimates of $2.08, with a total revenue of $4.53 billion reflecting a 13.9% year-over-year increase.
• The company declared a quarterly dividend of $0.71, with a payout ratio of 58.80% and an annual yield of 1.4%.

National Pension Service boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 816,581 shares of the electronics maker's stock after buying an additional 40,062 shares during the period. National Pension Service owned approximately 0.28% of TE Connectivity worth $115,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of TEL. Brighton Jones LLC purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $820,000. Federated Hermes Inc. boosted its position in TE Connectivity by 863.4% in the fourth quarter. Federated Hermes Inc. now owns 1,185 shares of the electronics maker's stock valued at $169,000 after buying an additional 1,062 shares during the last quarter. Townsquare Capital LLC lifted its holdings in TE Connectivity by 16.9% in the fourth quarter. Townsquare Capital LLC now owns 2,007 shares of the electronics maker's stock valued at $287,000 after acquiring an additional 290 shares during the period. Sagespring Wealth Partners LLC acquired a new position in TE Connectivity in the fourth quarter valued at approximately $366,000. Finally, Barclays PLC lifted its holdings in TE Connectivity by 41.4% in the fourth quarter. Barclays PLC now owns 850,457 shares of the electronics maker's stock valued at $121,590,000 after acquiring an additional 249,113 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 1.0%

Shares of TEL stock opened at $206.20 on Thursday. 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 company has a market cap of $60.93 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.44 and a beta of 1.23. The stock has a 50 day simple moving average of $180.97 and a 200-day simple moving average of $158.89. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share 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 during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the company posted $1.91 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on TEL. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. boosted their price target on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Citigroup boosted their price target on TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. KGI Securities raised TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.55.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the transaction, the insider directly owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This represents a 49.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of the 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 completion of the transaction, the insider directly owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This represents a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,795 shares of company stock valued at $26,401,597 in the last 90 days. 0.90% of the stock is owned by company insiders.

TE Connectivity 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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