Focus Partners Wealth increased its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,676 shares of the electronics maker's stock after acquiring an additional 2,028 shares during the quarter. Focus Partners Wealth's holdings in TE Connectivity were worth $6,673,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. EdgePoint Investment Group Inc. increased its stake in TE Connectivity by 15.3% during the 4th quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock valued at $555,303,000 after purchasing an additional 516,400 shares in the last quarter. Ethic Inc. increased its stake in TE Connectivity by 6.6% during the 4th quarter. Ethic Inc. now owns 28,349 shares of the electronics maker's stock valued at $4,053,000 after purchasing an additional 1,752 shares in the last quarter. Fiduciary Trust Co increased its stake in TE Connectivity by 4.2% during the 4th quarter. Fiduciary Trust Co now owns 6,606 shares of the electronics maker's stock valued at $944,000 after purchasing an additional 267 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in TE Connectivity by 24.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 758,062 shares of the electronics maker's stock valued at $108,380,000 after purchasing an additional 146,837 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in TE Connectivity by 5.4% during the 4th quarter. EP Wealth Advisors LLC now owns 1,939 shares of the electronics maker's stock valued at $277,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 91.43% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on TEL. Robert W. Baird boosted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Citigroup decreased their price target on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.
Read Our Latest Stock Report on TEL
Insider Buying and Selling
In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,675 shares of company stock valued at $27,062,559. 0.90% of the stock is owned by insiders.
TE Connectivity Stock Up 0.6%
Shares of NYSE TEL traded up $0.91 during trading on Friday, hitting $164.03. The stock had a trading volume of 1,411,880 shares, compared to its average volume of 1,696,545. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $164.11. 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 company has a market capitalization of $48.64 billion, a PE ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24. The firm has a fifty day moving average of $142.01 and a two-hundred day moving average of $146.64.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal 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 issued a $0.71 dividend. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's payout ratio is 62.42%.
TE Connectivity Company 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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