TE Connectivity Ltd. (NYSE:TEL) Shares Bought by US Bancorp DE

Key Points

• US Bancorp DE increased its stake in TE Connectivity Ltd. by 4.5%, acquiring an additional 4,016 shares to reach a total of 92,339 shares, valued at $13,049,000.
• Insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock, significantly reducing his holdings by 69.09%, while corporate insiders have sold a total of 258,470 shares within the last three months.
• TE Connectivity reported quarterly earnings of $2.27 per share, surpassing estimates, with a revenue increase of 13.9% compared to the previous year, and also announced a quarterly dividend of $0.71 per share.

US Bancorp DE boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,339 shares of the electronics maker's stock after acquiring an additional 4,016 shares during the quarter. US Bancorp DE's holdings in TE Connectivity were worth $13,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after purchasing an additional 592,072 shares during the period. EdgePoint Investment Group Inc. increased its stake in TE Connectivity by 15.3% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock valued at $555,303,000 after buying an additional 516,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TE Connectivity by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,224,564 shares of the electronics maker's stock worth $461,013,000 after purchasing an additional 30,793 shares during the last quarter. Northern Trust Corp grew its position in shares of TE Connectivity by 29.3% during the 4th quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock worth $384,739,000 after purchasing an additional 610,571 shares in the last quarter. Finally, First Pacific Advisors LP boosted its stake in shares of TE Connectivity by 0.8% in the 1st quarter. First Pacific Advisors LP now owns 2,683,212 shares of the electronics maker's stock valued at $379,192,000 after purchasing an additional 20,773 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the completion of the sale, the insider owned 23,667 shares in the company, valued at approximately $4,562,524.26. The trade was a 69.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the sale, the insider owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 258,470 shares of company stock valued at $45,313,205. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEL. JPMorgan Chase & Co. lifted their target price on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Bank of America lifted their target price on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Finally, 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. Four equities research 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. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Stock Up 0.1%

NYSE TEL traded up $0.11 on Thursday, hitting $200.16. 739,307 shares of the stock were exchanged, compared to its average volume of 1,861,104. 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 $212.76. The company has a market cap of $59.14 billion, a PE ratio of 41.40, a PEG ratio of 2.41 and a beta of 1.23. The company has a 50-day moving average price of $176.84 and a 200-day moving average price of $157.15.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion during 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%. TE Connectivity's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 EPS. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal 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 given a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) is currently 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.