Stevens Capital Management LP Invests $427,000 in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Stevens Capital Management LP initiated a new position in TE Connectivity Ltd., acquiring 3,021 shares valued at approximately $427,000 in the 1st quarter.
• TE Connectivity's stock has received several upgrades from analysts, with target prices increasing from $185.00 to $210.00, reflecting a general bullish sentiment.
• The company recently announced a quarterly dividend of $0.71, resulting in an annualized yield of 1.37% for shareholders.

Stevens Capital Management LP purchased a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,021 shares of the electronics maker's stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millstone Evans Group LLC acquired a new stake in shares of TE Connectivity during the first quarter worth about $32,000. North Capital Inc. acquired a new position in TE Connectivity in the first quarter valued at approximately $46,000. Global X Japan Co. Ltd. purchased a new stake in shares of TE Connectivity during the first quarter worth approximately $47,000. Bartlett & CO. Wealth Management LLC increased its position in shares of TE Connectivity by 650.8% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after purchasing an additional 423 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on TEL shares. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Robert W. Baird increased their price target on TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. UBS Group increased their price target on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Monday, July 14th. KGI Securities raised TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target on 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Price Performance

Shares of TEL traded down $0.79 during trading hours on Wednesday, hitting $208.38. 621,258 shares of the company were exchanged, compared to its average volume of 1,845,848. The company has a market capitalization of $61.57 billion, a PE ratio of 43.10, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The firm has a fifty day simple moving average of $171.57 and a 200-day simple moving average of $154.76. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.08 by $0.19. The firm 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 business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is currently 58.80%.

Insiders Place Their Bets

In related news, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value 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. This represents a 53.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 52,900 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the completion of the transaction, the insider directly owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. The trade was a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,470 shares of company stock worth $49,794,905 over the last ninety days. 0.90% of the stock is owned by insiders.

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.