TE Connectivity Ltd. $TEL Shares Purchased by Ethic Inc.

Ethic Inc. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,359 shares of the electronics maker's stock after acquiring an additional 1,347 shares during the quarter. Ethic Inc.'s holdings in TE Connectivity were worth $5,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in TE Connectivity during the 2nd quarter worth $26,000. Costello Asset Management INC acquired a new stake in TE Connectivity during the 1st quarter worth $28,000. Salomon & Ludwin LLC raised its stake in TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker's stock worth $31,000 after acquiring an additional 66 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in TE Connectivity during the 1st quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in TE Connectivity during the 2nd quarter worth $33,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEL shares. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Citigroup lifted their price objective on shares of TE Connectivity from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Zacks Research lowered shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. UBS Group lifted their price objective on shares of TE Connectivity from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Finally, Robert W. Baird lifted their price objective on shares of TE Connectivity from $222.00 to $238.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $222.00.

Insider Activity

In related news, EVP John S. Jenkins sold 45,850 shares of the business's stock in a transaction dated 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 owned 24,625 shares of the company's stock, valued at approximately $5,154,751.25. The trade was a 65.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Malavika Sagar sold 1,945 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the sale, the senior vice president directly owned 4,716 shares in the company, valued at approximately $977,155.20. This represents a 29.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,645 shares of company stock valued at $14,842,096 over the last quarter. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Stock Up 2.1%

Shares of NYSE:TEL opened at $234.02 on Friday. The company has a market cap of $69.15 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 2.47 and a beta of 1.26. The firm's 50-day simple moving average is $214.46 and its 200-day simple moving average is $182.51. 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 Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $237.50.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity's payout ratio is presently 58.80%.

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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