Northern Trust Corp Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Northern Trust Corp increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 29.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,691,050 shares of the electronics maker's stock after purchasing an additional 610,571 shares during the period. Northern Trust Corp owned approximately 0.90% of TE Connectivity worth $384,739,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter valued at $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the 4th quarter worth approximately $55,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Up 2.5 %

Shares of TE Connectivity stock traded up $3.66 during midday trading on Friday, reaching $150.02. 1,370,342 shares of the company's stock traded hands, compared to its average volume of 1,682,679. The company has a market cap of $44.49 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The stock has a 50 day moving average of $140.68 and a 200-day moving average of $146.06. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.89%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TEL shares. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.50.

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.