ING Groep NV raised its position in TE Connectivity Ltd. (NYSE:TEL) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,364 shares of the electronics maker’s stock after purchasing an additional 4,930 shares during the quarter. ING Groep NV’s holdings in TE Connectivity were worth $3,833,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atria Investments LLC increased its position in shares of TE Connectivity by 34.3% in the fourth quarter. Atria Investments LLC now owns 3,436 shares of the electronics maker’s stock valued at $327,000 after acquiring an additional 878 shares during the last quarter. Pennsylvania Trust Co increased its position in shares of TE Connectivity by 1.3% in the fourth quarter. Pennsylvania Trust Co now owns 123,835 shares of the electronics maker’s stock valued at $11,769,000 after acquiring an additional 1,643 shares during the last quarter. Bank of Montreal Can increased its position in shares of TE Connectivity by 1.4% in the fourth quarter. Bank of Montreal Can now owns 409,090 shares of the electronics maker’s stock valued at $38,879,000 after acquiring an additional 5,785 shares during the last quarter. Creative Planning increased its position in shares of TE Connectivity by 4.3% in the fourth quarter. Creative Planning now owns 20,846 shares of the electronics maker’s stock valued at $1,981,000 after acquiring an additional 861 shares during the last quarter. Finally, First National Trust Co acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $235,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Robert J. Ott sold 10,700 shares of TE Connectivity stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $105.14, for a total transaction of $1,124,998.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 76,183 shares of TE Connectivity stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $101.48, for a total value of $7,731,050.84. Following the transaction, the insider now owns 254,715 shares of the company’s stock, valued at approximately $25,848,478.20. The disclosure for this sale can be found here. Insiders have sold 97,567 shares of company stock valued at $9,955,860 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.
A number of research firms recently issued reports on TEL. ValuEngine downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $123.00 target price on shares of TE Connectivity in a research report on Tuesday, April 17th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $116.00 target price on shares of TE Connectivity in a research report on Wednesday, January 24th. Oppenheimer began coverage on TE Connectivity in a research report on Monday, March 26th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, Morgan Stanley lifted their target price on TE Connectivity from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. TE Connectivity currently has an average rating of “Buy” and a consensus target price of $139.25.
TE Connectivity stock opened at $95.05 on Tuesday. TE Connectivity Ltd. has a 52 week low of $94.75 and a 52 week high of $95.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.43 and a quick ratio of 0.94. The stock has a market cap of $33.12 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 25th. The electronics maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. TE Connectivity had a return on equity of 19.89% and a net margin of 9.39%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the company posted $1.19 earnings per share. TE Connectivity’s quarterly revenue was up 16.1% on a year-over-year basis. sell-side analysts predict that TE Connectivity Ltd. will post 5.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 25th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.85%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.40. TE Connectivity’s dividend payout ratio (DPR) is presently 33.13%.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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