PNC Financial Services Group Inc. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,573 shares of the electronics maker's stock after acquiring an additional 5,187 shares during the quarter. PNC Financial Services Group Inc.'s holdings in TE Connectivity were worth $15,767,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC boosted its stake in TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock worth $703,000 after acquiring an additional 68 shares during the last quarter. Vista Investment Management boosted its stake in TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after acquiring an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after acquiring an additional 75 shares during the last quarter. Wedmont Private Capital boosted its stake in TE Connectivity by 4.3% during the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after acquiring an additional 80 shares during the last quarter. Finally, AllSquare Wealth Management LLC boosted its stake in TE Connectivity by 7.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock worth $180,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
Insider Buying and Selling at TE Connectivity
In related news, CFO Heath A. Mitts sold 53,306 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the transaction, the chief financial officer directly owned 45,503 shares in the company, valued at approximately $7,244,532.63. The trade was a 53.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John S. Jenkins sold 45,850 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the transaction, the executive vice president owned 24,625 shares in the company, valued at approximately $5,154,751.25. The trade was a 65.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,470 shares of company stock valued at $45,313,205 in the last 90 days. Company insiders own 0.90% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on TEL shares. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. UBS Group upped their price target 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. Finally, Wells Fargo & Company upped their price target 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. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.
Read Our Latest Stock Report on TEL
TE Connectivity Stock Performance
Shares of TEL stock opened at $204.12 on Tuesday. The firm has a market cap of $60.31 billion, a PE ratio of 42.26, a P/E/G ratio of 2.42 and a beta of 1.23. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $212.76. The company's fifty day simple moving average is $175.25 and its 200-day simple moving average is $156.54. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The business had revenue of $4.53 billion for 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 firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 earnings per share. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Announces Dividend
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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is presently 58.80%.
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.
Further Reading
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