Virtu Financial LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 440.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,636 shares of the electronics maker's stock after acquiring an additional 6,223 shares during the quarter. Virtu Financial LLC's holdings in TE Connectivity were worth $1,079,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Costello Asset Management INC acquired a new position in TE Connectivity in the 1st quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new position in TE Connectivity in the 1st quarter valued at approximately $32,000. North Capital Inc. acquired a new position in TE Connectivity in the 1st quarter valued at approximately $46,000. Global X Japan Co. Ltd. acquired a new position in TE Connectivity in the 1st quarter valued at approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC grew its position in TE Connectivity by 650.8% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after acquiring an additional 423 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on TEL. Wells Fargo & Company boosted their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group reissued a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Truist Financial boosted their target price on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research report on Thursday, April 24th. Finally, Bank of America boosted their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $197.55.
Check Out Our Latest Analysis on TE Connectivity
TE Connectivity Stock Performance
NYSE:TEL traded up $2.06 during trading hours on Wednesday, hitting $206.20. 1,391,664 shares of the company traded hands, compared to its average volume of 2,259,942. The stock has a market capitalization of $60.93 billion, a price-to-earnings ratio of 42.69, a P/E/G ratio of 2.44 and a beta of 1.23. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $212.76. The firm has a 50-day moving average of $180.97 and a 200 day moving average of $158.89. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio is currently 58.80%.
Insider Buying and Selling at TE Connectivity
In other news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the transaction, the senior vice president owned 4,716 shares in the company, valued at approximately $977,155.20. This represents a 29.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the completion of the transaction, the insider owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This represents a 69.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,795 shares of company stock worth $26,401,597. Corporate insiders own 0.90% of the company's stock.
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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