AXS Investments LLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 115.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,680 shares of the electronics maker's stock after acquiring an additional 10,559 shares during the period. TE Connectivity comprises approximately 0.8% of AXS Investments LLC's holdings, making the stock its 29th largest holding. AXS Investments LLC's holdings in TE Connectivity were worth $2,781,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TEL. Costello Asset Management INC acquired a new stake in shares of TE Connectivity during the first quarter worth $28,000. Millstone Evans Group LLC acquired a new stake in TE Connectivity during the first quarter worth about $32,000. North Capital Inc. bought a new position in TE Connectivity in the first quarter worth about $46,000. Global X Japan Co. Ltd. acquired a new position in TE Connectivity in the first quarter valued at approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC grew its holdings 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 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.
Analyst Ratings Changes
A number of research firms recently issued reports on TEL. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Friday, April 25th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Bank of America upped 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. Robert W. Baird lifted their price objective on shares of TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Four investment 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.
Check Out Our Latest Analysis on TE Connectivity
TE Connectivity Price Performance
TE Connectivity stock traded down $0.01 during trading hours on Thursday, hitting $200.04. 1,219,861 shares of the company traded hands, compared to its average volume of 2,299,662. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76. The firm has a market cap of $59.11 billion, a P/E ratio of 41.42, a P/E/G ratio of 2.39 and a beta of 1.23. The firm's 50-day simple moving average is $177.61 and its two-hundred day simple moving average is $157.52. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.
TE Connectivity (NYSE:TEL - Get Free Report) last announced 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 analysts' expectations of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 earnings per share. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
The firm also recently declared 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 is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.4%. TE Connectivity's payout ratio is 58.80%.
Insider Transactions at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm'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 transaction, the insider owned 25,976 shares in the company, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Malavika Sagar sold 1,945 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,470 shares of company stock valued at $45,313,205 in the last quarter. 0.90% of the stock is owned by company insiders.
About TE Connectivity
(
Free Report)
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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