Alberta Investment Management Corp Invests $2.94 Million in TE Connectivity Ltd (NYSE:TEL)

Alberta Investment Management Corp purchased a new position in shares of TE Connectivity Ltd (NYSE:TEL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,600 shares of the electronics maker’s stock, valued at approximately $2,935,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TEL. Norges Bank acquired a new stake in TE Connectivity in the 4th quarter valued at about $402,274,000. Assenagon Asset Management S.A. acquired a new stake in TE Connectivity in the 1st quarter valued at about $108,417,000. AQR Capital Management LLC grew its stake in TE Connectivity by 66.8% in the 4th quarter. AQR Capital Management LLC now owns 2,210,309 shares of the electronics maker’s stock valued at $211,394,000 after acquiring an additional 884,824 shares during the last quarter. Madison Asset Management LLC acquired a new stake in TE Connectivity in the 4th quarter valued at about $78,701,000. Finally, Capital World Investors grew its stake in TE Connectivity by 6.8% in the 4th quarter. Capital World Investors now owns 11,259,513 shares of the electronics maker’s stock valued at $1,079,112,000 after acquiring an additional 720,186 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TEL stock opened at $76.23 on Friday. The firm has a market cap of $25.16 billion, a P/E ratio of 14.31, a PEG ratio of 1.95 and a beta of 1.31. TE Connectivity Ltd has a 1-year low of $48.62 and a 1-year high of $101.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $69.65 and its 200-day simple moving average is $84.15.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.29. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TE Connectivity had a net margin of 5.36% and a return on equity of 17.58%. The company’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 EPS. Analysts expect that TE Connectivity Ltd will post 3.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.48 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.92 annualized dividend and a yield of 2.52%. TE Connectivity’s dividend payout ratio (DPR) is presently 34.59%.

A number of equities research analysts recently commented on TEL shares. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “hold” rating and set a $72.00 price objective on the stock in a research note on Friday, May 15th. Royal Bank of Canada reaffirmed a “buy” rating and set a $84.00 price target on shares of TE Connectivity in a research note on Wednesday, March 18th. Morgan Stanley decreased their price target on shares of TE Connectivity from $91.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Cfra decreased their price target on shares of TE Connectivity from $108.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, Loop Capital initiated coverage on shares of TE Connectivity in a research note on Monday, April 20th. They set a “buy” rating and a $80.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $92.12.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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