Russell Investments Group Ltd. Purchases 24,529 Shares of TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Russell Investments Group Ltd. increased its holdings in TE Connectivity Ltd. by 5.6%, acquiring an additional 24,529 shares, bringing its total ownership to 464,802 shares valued at approximately $65.72 million.
• Insider Aaron Kyle Stucki sold 52,900 shares at an average price of $192.78, resulting in a total transaction of $10.20 million, which decreased his ownership by nearly 69.09%.
• TE Connectivity reported $2.27 EPS in its latest earnings, surpassing estimates, and announced a quarterly dividend of $0.71 per share with a yield of 1.4%.

Russell Investments Group Ltd. boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464,802 shares of the electronics maker's stock after purchasing an additional 24,529 shares during the period. Russell Investments Group Ltd. owned about 0.16% of TE Connectivity worth $65,722,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in TE Connectivity during the 1st quarter valued at about $28,000. Millstone Evans Group LLC bought a new position in TE Connectivity during the 1st quarter valued at about $32,000. North Capital Inc. bought a new position in TE Connectivity during the 1st quarter valued at about $46,000. Global X Japan Co. Ltd. bought a new position in TE Connectivity during the 1st quarter valued at about $47,000. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in TE Connectivity by 650.8% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after purchasing an additional 423 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the completion of the sale, the insider owned 23,667 shares of the company's stock, valued at $4,562,524.26. This represents a 69.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John S. Jenkins sold 45,850 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. The trade was a 65.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,795 shares of company stock worth $26,401,597. 0.90% of the stock is currently owned by insiders.

TE Connectivity Price Performance

Shares of TEL opened at $206.20 on Thursday. The company has a 50 day moving average price of $180.97 and a 200-day moving average price of $158.89. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76. The stock has a market capitalization of $60.93 billion, a PE ratio of 42.69, a PEG ratio of 2.44 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 announced its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the company earned $1.91 EPS. The company's revenue was up 13.9% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share 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 given 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 yield of 1.4%. TE Connectivity's dividend payout ratio is presently 58.80%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI upped their target price on shares of TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research note on Thursday, April 24th. Truist Financial upped their target price on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research note 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. Finally, Citigroup upped their target price 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 equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.55.

About TE Connectivity

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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