1,873 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Purkiss Capital Advisors LLC

Key Points

• Purkiss Capital Advisors LLC has acquired a new stake in TE Connectivity Ltd., purchasing 1,873 shares valued at approximately $265,000.
• In the last quarter, several large hedge funds significantly increased their stakes in TE Connectivity, with Wellington Management acquiring a stake worth $909 million.
• TE Connectivity's recent earnings report showed $2.27 EPS, beating analysts' expectations, while revenue rose by 13.9% year-over-year.

Purkiss Capital Advisors LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,873 shares of the electronics maker's stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEL. Ballentine Partners LLC boosted its holdings in TE Connectivity by 1.4% in the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock worth $703,000 after purchasing an additional 68 shares during the last quarter. Vista Investment Management boosted its holdings in TE Connectivity by 0.5% in the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after purchasing an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after purchasing an additional 75 shares during the last quarter. Wedmont Private Capital boosted its holdings in TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after purchasing an additional 80 shares during the last quarter. Finally, AllSquare Wealth Management LLC boosted its holdings in TE Connectivity by 7.0% in the first quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock worth $180,000 after purchasing an additional 83 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Trading Down 0.1%

TE Connectivity stock traded down $0.17 during trading hours on Thursday, hitting $206.51. The company had a trading volume of 801,673 shares, compared to its average volume of 1,852,747. The firm has a market cap of $61.02 billion, a P/E ratio of 42.77, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $212.76. The company has a 50-day moving average price of $172.52 and a two-hundred day moving average price of $155.12.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.38%. TE Connectivity's dividend payout ratio (DPR) is 58.80%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Finally, Citigroup lifted their price target on shares of TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $194.80.

Insider Buying and Selling

In other news, SVP Malavika Sagar sold 1,945 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at approximately $977,155.20. The trade was a 29.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the sale, the insider owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,470 shares of company stock worth $49,794,905 over the last 90 days. Corporate insiders own 0.90% of the company's stock.

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.