Principal Financial Group Inc. decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,941 shares of the electronics maker's stock after selling 1,523 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of TE Connectivity worth $45,921,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vista Investment Management raised its position in TE Connectivity by 0.5% in the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after purchasing an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after purchasing an additional 75 shares during the last quarter. Wedmont Private Capital raised its position in TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after purchasing an additional 80 shares during the last quarter. King Luther Capital Management Corp raised its position in TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock valued at $2,002,000 after purchasing an additional 83 shares during the last quarter. Finally, First County Bank CT increased its stake in TE Connectivity by 3.6% in the 1st quarter. First County Bank CT now owns 2,425 shares of the electronics maker's stock valued at $343,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Buying and Selling
In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the 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 completion of the sale, the insider owned 25,976 shares of the company's stock, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aaron Kyle Stucki sold 13,100 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the completion of the sale, the insider directly owned 23,657 shares of the company's stock, valued at $4,021,690. This trade represents a 35.64% 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 three months. Company insiders own 0.90% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on TEL. JPMorgan Chase & Co. boosted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Bank of America upped their price target on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.90.
Get Our Latest Report on TE Connectivity
TE Connectivity Trading Up 1.3%
NYSE:TEL traded up $2.27 on Thursday, reaching $174.92. The stock had a trading volume of 1,723,064 shares, compared to its average volume of 1,801,141. The company has a market cap of $51.87 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 2.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. The firm's fifty day moving average is $162.72 and its two-hundred day moving average is $150.40. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $175.31.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 EPS. Equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.
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.
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