Raiffeisen Bank International AG Has $605,000 Stake in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Raiffeisen Bank International AG reduced its stake in TE Connectivity Ltd. by 23.2%, holding 4,256 shares valued at approximately $605,000 at the end of the first quarter.
• Several institutional investors have significantly increased their positions in TE Connectivity, with GAMMA Investing LLC growing its stake by 21,927.9% to own over 703,000 shares worth about $99.4 million.
• TE Connectivity announced a quarterly dividend of $0.71 per share, representing an annualized dividend of $2.84 and a yield of 1.4%, with a payout ratio of 58.80%.

Raiffeisen Bank International AG reduced its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 23.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,256 shares of the electronics maker's stock after selling 1,289 shares during the period. Raiffeisen Bank International AG's holdings in TE Connectivity were worth $605,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Woodline Partners LP bought a new position in TE Connectivity during the fourth quarter worth about $127,351,000. GAMMA Investing LLC increased its position in shares of TE Connectivity by 21,927.9% in the first quarter. GAMMA Investing LLC now owns 703,350 shares of the electronics maker's stock valued at $99,397,000 after acquiring an additional 700,157 shares during the last quarter. Point72 Asset Management L.P. increased its position in TE Connectivity by 1,089.8% during the fourth quarter. Point72 Asset Management L.P. now owns 730,864 shares of the electronics maker's stock worth $104,492,000 after buying an additional 669,435 shares during the last quarter. Royal Bank of Canada increased its position in TE Connectivity by 95.4% during the fourth quarter. Royal Bank of Canada now owns 1,277,319 shares of the electronics maker's stock worth $182,618,000 after buying an additional 623,652 shares during the last quarter. Finally, Northern Trust Corp increased its position in TE Connectivity by 29.3% during the fourth quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock worth $384,739,000 after buying an additional 610,571 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TEL shares. KGI Securities upgraded TE Connectivity to a "hold" rating in a report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Wells Fargo & Company upped their price target 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. Citigroup increased their price objective on TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Bank of America boosted their price target on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $204.12 on Tuesday. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76. The company has a 50 day simple moving average of $175.25 and a two-hundred day simple moving average of $156.54. The company has a market capitalization of $60.31 billion, a price-to-earnings ratio of 42.26, a P/E/G ratio of 2.42 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 (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion for 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 quarter last year, the company posted $1.91 earnings per share. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS 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. Investors of record on Friday, August 22nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity's payout ratio is currently 58.80%.

Insider Activity

In related news, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 45,503 shares of the company's stock, valued at approximately $7,244,532.63. The trade was a 53.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was 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 directly owned 25,976 shares of the company's stock, valued at $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,470 shares of company stock worth $45,313,205 in the last 90 days. Company 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.

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