Stonegate Investment Group LLC Buys 2,615 Shares of TE Connectivity Ltd. (NYSE:TEL)

Stonegate Investment Group LLC increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 61.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,874 shares of the electronics maker's stock after purchasing an additional 2,615 shares during the period. Stonegate Investment Group LLC's holdings in TE Connectivity were worth $971,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEL. Brighton Jones LLC bought a new position in shares of TE Connectivity in the 4th quarter worth $820,000. Principal Securities Inc. lifted its holdings in shares of TE Connectivity by 8.8% in the 4th quarter. Principal Securities Inc. now owns 3,362 shares of the electronics maker's stock worth $481,000 after purchasing an additional 271 shares in the last quarter. Allworth Financial LP raised its position in TE Connectivity by 27.7% in the 4th quarter. Allworth Financial LP now owns 1,444 shares of the electronics maker's stock valued at $224,000 after buying an additional 313 shares during the last quarter. New York State Common Retirement Fund raised its position in TE Connectivity by 48.8% in the 4th quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock valued at $160,000 after buying an additional 368 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators purchased a new stake in TE Connectivity in the 4th quarter valued at $57,000. 91.43% of the stock is currently owned by institutional investors.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the sale, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $3,975,750.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $4,130,963.28. This represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,675 shares of company stock worth $27,369,059. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup lowered their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research report on Thursday, April 24th. Robert W. Baird raised their target price on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company raised their target price on TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.50.

TE Connectivity Stock Performance

TEL traded down $0.59 during trading hours on Friday, hitting $163.19. The stock had a trading volume of 2,765,138 shares, compared to its average volume of 1,705,663. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $167.94. The company's fifty day simple moving average is $153.80 and its 200 day simple moving average is $148.46. The stock has a market cap of $48.40 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the business posted $1.86 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 62.42%.

TE Connectivity Company 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.