Schwartz Investment Counsel Inc. cut its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 59.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,300 shares of the electronics maker's stock after selling 10,750 shares during the period. Schwartz Investment Counsel Inc.'s holdings in TE Connectivity were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in TEL. Vanguard Group Inc. lifted its position in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after buying an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP purchased a new position in TE Connectivity during the fourth quarter worth approximately $909,598,000. Geode Capital Management LLC lifted its position in TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after buying an additional 33,340 shares in the last quarter. Ameriprise Financial Inc. lifted its position in TE Connectivity by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
TEL has been the topic of a number of research analyst reports. Citigroup reduced their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Wells Fargo & Company lifted 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. The Goldman Sachs Group reduced their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued 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 $162.50.
View Our Latest Report on TEL
TE Connectivity Price Performance
TEL stock opened at $166.85 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $49.48 billion, a PE ratio of 36.67, a P/E/G ratio of 2.21 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $170.23. The business's fifty day moving average price is $157.63 and its 200 day moving average price is $149.05.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the firm posted $1.86 EPS. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Dividend Announcement
The business also recently announced 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 is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.70%. TE Connectivity's payout ratio is 62.42%.
Insider Transactions at TE Connectivity
In other news, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president now directly owns 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Aaron Kyle Stucki sold 5,000 shares of the company'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 $800,000.00. Following the transaction, the insider now directly owns 23,646 shares of the company's stock, valued at approximately $3,783,360. This represents a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,775 shares of company stock valued at $29,596,059. 0.90% of the stock is currently owned by corporate insiders.
TE Connectivity Profile
(
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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