Logan Capital Management Inc. Buys New Shares in TE Connectivity Ltd. (NYSE:TEL)

Logan Capital Management Inc. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,006 shares of the electronics maker's stock, valued at approximately $1,002,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its stake in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $44,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TEL. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Friday, April 25th. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Robert W. Baird raised their target price on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company upped their price target on TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $159.50.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded up $0.91 on Friday, reaching $164.03. 1,411,880 shares of the company's stock were exchanged, compared to its average volume of 1,695,787. The company has a fifty day moving average of $141.62 and a 200-day moving average of $146.56. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $164.45. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $48.64 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. On average, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is presently 62.42%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Aaron Kyle Stucki sold 5,000 shares of TE Connectivity stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. Following the transaction, the insider now owns 23,646 shares in the company, valued at approximately $3,783,360. This trade represents a 17.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,675 shares of company stock worth $27,062,559. Corporate insiders own 0.90% of the company's stock.

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.