Telos Capital Management Inc. Buys Shares of 47,545 TE Connectivity Ltd. (NYSE:TEL)

Telos Capital Management Inc. purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 47,545 shares of the electronics maker's stock, valued at approximately $6,719,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $909,598,000. Vanguard Group Inc. lifted its stake in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares during the last quarter. Norges Bank bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $508,199,000. Clearbridge Investments LLC lifted its stake in shares of TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after acquiring an additional 1,702,825 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $127,351,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Up 1.2%

Shares of TE Connectivity stock traded up $2.11 during midday trading on Friday, hitting $177.14. The company had a trading volume of 1,542,540 shares, compared to its average volume of 1,713,989. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The stock has a market capitalization of $52.53 billion, a P/E ratio of 38.93, a P/E/G ratio of 2.19 and a beta of 1.23. The company has a 50 day moving average of $163.83 and a 200 day moving average of $150.90. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $178.10.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 EPS. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.60%. TE Connectivity's payout ratio is currently 62.42%.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the sale, the insider owned 25,976 shares in the company, valued at $4,130,963.28. This represents a 49.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the 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 sale, the chief financial officer owned 45,503 shares in the company, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock worth $29,596,059 over the last three months. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TEL shares. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. 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 report on Friday, April 25th. Truist Financial dropped their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Three equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $171.70.

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.