Vantage Wealth Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Vantage Wealth bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 96,410 shares of the electronics maker's stock, valued at approximately $13,625,000. TE Connectivity makes up 3.1% of Vantage Wealth's investment portfolio, making the stock its 23rd biggest holding.

Other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its position in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $44,000. Deseret Mutual Benefit Administrators bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $57,000. Finally, Loomis Sayles & Co. L P boosted its position in shares of TE Connectivity by 32.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock worth $71,000 after buying an additional 123 shares during the period. Institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

TEL traded up $0.20 during trading on Thursday, hitting $162.27. The stock had a trading volume of 1,605,605 shares, compared to its average volume of 1,704,835. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market cap of $48.12 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a 50 day moving average price of $145.69 and a 200-day moving average price of $147.39. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $168.00.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data 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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the previous year, the company earned $1.86 EPS. The business's revenue was up 4.4% on a year-over-year basis. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.75%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In related news, SVP Malavika Sagar sold 3,125 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John S. Jenkins sold 20,400 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,369,059 in the last 90 days. Company insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TEL. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research note on Friday, April 25th. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Citigroup decreased their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and a consensus price target of $162.50.

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.