Zurcher Kantonalbank Zurich Cantonalbank Purchases 4,135 Shares of TE Connectivity Ltd. (NYSE:TEL)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,153 shares of the electronics maker's stock after acquiring an additional 4,135 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TE Connectivity were worth $8,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in TE Connectivity in the first quarter worth $32,000. North Capital Inc. bought a new stake in TE Connectivity in the 1st quarter valued at about $46,000. Global X Japan Co. Ltd. purchased a new stake in TE Connectivity during the first quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC boosted its position in TE Connectivity by 650.8% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after purchasing an additional 423 shares during the period. Finally, Ancora Advisors LLC increased its stake in shares of TE Connectivity by 150.0% in the fourth quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock worth $71,000 after purchasing an additional 300 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

TEL has been the subject of a number of recent research reports. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research note on Thursday, April 24th. Robert W. Baird boosted their price objective on TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Citigroup lifted their target price on TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. KGI Securities raised shares of TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $194.80.

TE Connectivity Price Performance

Shares of NYSE TEL traded down $4.10 during mid-day trading on Friday, reaching $201.65. 2,931,353 shares of the company were exchanged, compared to its average volume of 2,090,393. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The company's 50 day moving average price is $173.44 and its 200 day moving average price is $155.56. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $212.76. The stock has a market capitalization of $59.58 billion, a PE ratio of 41.75, a PEG ratio of 2.46 and a beta of 1.23.

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. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The firm had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period last year, the firm earned $1.91 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 58.80%.

Insider Activity at TE Connectivity

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 transaction of $8,486,848.26. Following the completion of the transaction, the chief financial officer owned 45,503 shares of the company's stock, 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 at the SEC website. Also, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,470 shares of company stock valued at $45,313,205 in the last quarter. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Profile

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.