Russell Investments Group Ltd. raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 39.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,723 shares of the electronics maker's stock after acquiring an additional 64,572 shares during the period. Russell Investments Group Ltd. owned 0.07% of TE Connectivity worth $32,299,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its holdings in shares of TE Connectivity by 358.5% during the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock valued at $30,000 after buying an additional 190 shares during the last quarter. Arlington Trust Co LLC bought a new stake in shares of TE Connectivity during the third quarter valued at approximately $35,000. Wetzel Investment Advisors Inc. bought a new stake in TE Connectivity during the fourth quarter worth approximately $45,000. Finally, Exchange Traded Concepts LLC raised its holdings in TE Connectivity by 176.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker's stock worth $46,000 after purchasing an additional 210 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Trading Down 1.4 %
NYSE TEL traded down $2.05 on Wednesday, hitting $139.43. 1,410,153 shares of the stock were exchanged, compared to its average volume of 2,202,235. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company has a market capitalization of $42.70 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 2.09 and a beta of 1.39. The company's 50-day moving average price is $142.56 and its two-hundred day moving average price is $136.62.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the previous year, the company posted $1.65 EPS. The company's quarterly revenue was down 4.6% compared to the same quarter last year. Research analysts predict that TE Connectivity Ltd. will post 7.55 EPS for the current year.
TE Connectivity Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity's payout ratio is 21.59%.
Insiders Place Their Bets
In other news, Director Mark Trudeau sold 7,044 shares of the business's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.86% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on TEL. The Goldman Sachs Group reissued a "buy" rating on shares of TE Connectivity in a report on Monday, April 1st. Citigroup began coverage on TE Connectivity in a report on Friday, January 5th. They set a "neutral" rating and a $146.00 target price on the stock. Stifel Nicolaus boosted their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. Robert W. Baird dropped their target price on TE Connectivity from $159.00 to $158.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $153.50.
Get Our Latest Stock Analysis on TE Connectivity
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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