Oppenheimer Asset Management Inc. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Oppenheimer Asset Management Inc. lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,383 shares of the electronics maker's stock after buying an additional 3,362 shares during the period. Oppenheimer Asset Management Inc.'s holdings in TE Connectivity were worth $9,805,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its position in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $43,000. Global X Japan Co. Ltd. bought a new position in TE Connectivity in the first quarter valued at about $47,000. Loomis Sayles & Co. L P lifted its holdings in TE Connectivity by 32.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 123 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in TE Connectivity by 150.0% in the fourth quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 300 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TEL. Truist Financial lowered their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Friday, April 25th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Thursday, April 24th. Wells Fargo & Company increased their target price on TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Wall Street Zen downgraded TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.50.

TE Connectivity Stock Up 1.6%

NYSE TEL opened at $165.88 on Tuesday. The stock's 50-day moving average price is $154.52 and its 200-day moving average price is $148.56. The company has a market capitalization of $49.19 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $167.94. 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 issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for 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 quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

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 issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 37,844 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the completion of the transaction, the chief financial officer now owns 45,503 shares in the company, valued at $6,976,974.99. This trade represents a 45.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider now owns 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. Insiders sold 174,675 shares of company stock worth $27,369,059 in the last quarter. 0.90% of the stock is owned by corporate 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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