Twinbeech Capital LP purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,816 shares of the electronics maker's stock, valued at approximately $2,261,000.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 4,029,596 shares during the period. Wellington Management Group LLP acquired a new stake in shares of TE Connectivity during the fourth quarter worth $909,598,000. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 33,340 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of 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 purchasing an additional 592,072 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings 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 acquiring an additional 1,702,825 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on TEL. 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 report on Thursday, April 24th. 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 report on Monday, May 19th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Citigroup cut their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. lifted their price target on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.30.
Read Our Latest Research Report on TE Connectivity
Insider Buying and Selling at TE Connectivity
In other news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. The trade was a 54.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock worth $27,062,559 in the last 90 days. 0.90% of the stock is owned by company insiders.
TE Connectivity Price Performance
TE Connectivity stock traded up $3.91 during midday trading on Tuesday, reaching $161.47. 294,569 shares of the company were exchanged, compared to its average volume of 1,831,869. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $47.88 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 2.11 and a beta of 1.24. The firm's 50-day simple moving average is $143.76 and its 200-day simple moving average is $146.91. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $164.11.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.76%. TE Connectivity's payout ratio is 62.42%.
TE Connectivity Company 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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