Panagora Asset Management Inc. raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 868.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,378 shares of the electronics maker's stock after acquiring an additional 78,358 shares during the quarter. Panagora Asset Management Inc.'s holdings in TE Connectivity were worth $12,348,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Costello Asset Management INC bought a new position in shares of TE Connectivity in the first quarter worth about $28,000. Millstone Evans Group LLC bought a new position in shares of TE Connectivity in the first quarter worth about $32,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of TE Connectivity in the first quarter worth about $34,000. Dagco Inc. bought a new position in TE Connectivity in the 1st quarter valued at approximately $35,000. Finally, North Capital Inc. bought a new position in TE Connectivity in the 1st quarter valued at approximately $46,000. Institutional investors own 91.43% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on TEL shares. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Citigroup raised their price objective on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Evercore ISI raised their price objective on shares of TE Connectivity from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Finally, UBS Group raised their price objective on shares of TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.55.
Read Our Latest Report on TE Connectivity
Insider Activity at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 23,850 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the completion of the sale, the insider owned 25,976 shares of the company's stock, valued at $5,272,868.24. This trade represents a 47.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Aaron Kyle Stucki sold 52,900 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the sale, the insider directly owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This trade represents a 69.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,645 shares of company stock worth $27,267,158. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Trading Up 0.0%
NYSE:TEL traded up $0.05 on Friday, reaching $208.59. 1,047,869 shares of the stock traded hands, compared to its average volume of 1,504,962. The firm has a market capitalization of $61.64 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23. The company's 50 day moving average is $194.59 and its 200-day moving average is $165.50. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. 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 released its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 EPS. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) is 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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