Venturi Wealth Management LLC increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 20.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,199 shares of the electronics maker's stock after purchasing an additional 2,378 shares during the period. Venturi Wealth Management LLC's holdings in TE Connectivity were worth $2,007,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Wellington Management Group LLP purchased a new position in TE Connectivity in the 4th quarter worth about $909,598,000. Geode Capital Management LLC raised its position in TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after buying an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. raised its position in TE Connectivity by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
Insiders Place Their Bets
In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer directly owned 45,503 shares in the company, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 5,927 shares of the company's stock, valued at $948,320. The trade was a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,675 shares of company stock worth $39,794,121 over the last ninety days. 0.90% of the stock is owned by company insiders.
TE Connectivity Stock Performance
Shares of NYSE:TEL traded up $2.06 during mid-day trading on Friday, reaching $207.66. 2,069,221 shares of the company traded hands, compared to its average volume of 1,993,890. The company's 50 day moving average price is $169.73 and its 200-day moving average price is $153.77. The firm has a market cap of $61.58 billion, a PE ratio of 42.99, a PEG ratio of 2.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 1.08. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $208.17.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating 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 return on equity of 20.22% and a net margin of 8.78%. The firm's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 EPS. On average, equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.37%. TE Connectivity's payout ratio is 58.80%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on TEL. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a research report on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Truist Financial upped their price target on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.
Get Our Latest Stock Analysis on TEL
TE Connectivity 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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