Oppenheimer & Co. Inc. boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 181.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,736 shares of the electronics maker's stock after buying an additional 8,847 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in TE Connectivity were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its holdings in TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after buying an additional 841 shares during the last quarter. J. Safra Sarasin Holding AG raised its holdings 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 worth $2,219,000 after purchasing an additional 8,728 shares in the last quarter. New York State Common Retirement Fund raised its holdings in TE Connectivity by 48.8% in the 4th quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock worth $160,000 after purchasing an additional 368 shares in the last quarter. QRG Capital Management Inc. raised its holdings in TE Connectivity by 3.3% in the 4th quarter. QRG Capital Management Inc. now owns 108,161 shares of the electronics maker's stock worth $15,464,000 after purchasing an additional 3,432 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC raised its holdings 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 worth $1,587,000 after purchasing an additional 4,214 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
TEL has been the subject of several research reports. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. UBS Group increased their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company raised their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Citigroup dropped their price target on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.50.
Check Out Our Latest Report on TEL
TE Connectivity Stock Performance
Shares of TEL traded down $2.21 on Friday, reaching $166.85. The company's stock had a trading volume of 2,756,496 shares, compared to its average volume of 1,709,144. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $170.47. The stock has a market capitalization of $49.48 billion, a P/E ratio of 36.67, a PEG ratio of 2.19 and a beta of 1.23. The stock's 50 day simple moving average is $156.88 and its two-hundred day simple moving average is $148.94.
TE Connectivity (NYSE:TEL - Get Free Report) last issued 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. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The company's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share 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 issued 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 dividend payout ratio is currently 62.42%.
Insider Buying and Selling at TE Connectivity
In other news, CFO Heath A. Mitts sold 37,844 shares of TE Connectivity stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the sale, the executive vice president now owns 24,625 shares in the company, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,775 shares of company stock valued at $29,596,059 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.
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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