UNIVEST FINANCIAL Corp Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• UNIVEST FINANCIAL Corp increased its stake in TE Connectivity Ltd. by 2.0%, owning 77,597 shares valued at approximately $10.97 million as per its latest SEC filing.
• TE Connectivity recently reported $2.27 earnings per share (EPS) for the last quarter, surpassing the expected $2.08, indicating a 13.9% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.71 per share, with an annual yield of 1.4%, scheduled for payment on September 12th.

UNIVEST FINANCIAL Corp increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,597 shares of the electronics maker's stock after acquiring an additional 1,501 shares during the period. UNIVEST FINANCIAL Corp's holdings in TE Connectivity were worth $10,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Ballentine Partners LLC lifted its stake in TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares during the period. Vista Investment Management boosted its holdings in TE Connectivity by 0.5% in the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after purchasing an additional 70 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after purchasing an additional 75 shares during the period. Wedmont Private Capital raised its stake in shares of TE Connectivity by 4.3% during the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after buying an additional 80 shares during the last quarter. Finally, AllSquare Wealth Management LLC lifted its holdings in shares of TE Connectivity by 7.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock valued at $180,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on TEL shares. KGI Securities raised TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $194.80.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business'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 transaction, the insider directly owned 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the sale, the senior vice president directly owned 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,470 shares of company stock worth $45,313,205 in the last ninety days. Company insiders own 0.90% of the company's stock.

TE Connectivity Stock Down 0.7%

Shares of NYSE TEL opened at $205.23 on Friday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $212.76. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The company's 50-day simple moving average is $173.44 and its 200-day simple moving average is $155.56. The firm has a market cap of $60.64 billion, a price-to-earnings ratio of 42.49, a price-to-earnings-growth ratio of 2.47 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the previous year, the firm posted $1.91 EPS. TE Connectivity's revenue was up 13.9% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) 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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