Waverton Investment Management Ltd raised its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,587,215 shares of the electronics maker's stock after purchasing an additional 109,234 shares during the period. TE Connectivity makes up about 3.5% of Waverton Investment Management Ltd's portfolio, making the stock its 11th largest holding. Waverton Investment Management Ltd owned approximately 0.53% of TE Connectivity worth $224,385,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TEL. Vanguard Group Inc. boosted its position in shares of TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of TE Connectivity during the 4th quarter worth $909,598,000. Geode Capital Management LLC grew its position in TE Connectivity by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after acquiring an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of TE Connectivity by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after acquiring an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
TE Connectivity Price Performance
Shares of NYSE TEL opened at $169.41 on Friday. The firm has a market capitalization of $50.24 billion, a P/E ratio of 37.23, a P/E/G ratio of 2.19 and a beta of 1.23. The firm's 50-day moving average price is $156.88 and its 200-day moving average price is $148.94. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $170.38.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm posted $1.86 EPS. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is currently 62.42%.
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 value of $3,975,750.00. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 37,844 shares of TE Connectivity stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at approximately $6,976,974.99. This represents a 45.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,675 shares of company stock worth $27,369,059. 0.90% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research firms have weighed in on TEL. UBS Group boosted their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Friday, April 25th. The Goldman Sachs Group lowered their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, 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. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.50.
View Our Latest Research Report on TE Connectivity
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.
See Also
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
