Advisor Group Holdings Inc. purchased a new position in shares of TE Connectivity Ltd (NYSE:TEL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,231 shares of the electronics maker’s stock, valued at approximately $2,213,000.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of TE Connectivity by 0.5% during the 1st quarter. BlackRock Inc. now owns 18,285,115 shares of the electronics maker’s stock worth $1,151,596,000 after purchasing an additional 86,455 shares during the period. Capital World Investors increased its holdings in shares of TE Connectivity by 32.6% during the 1st quarter. Capital World Investors now owns 14,926,249 shares of the electronics maker’s stock worth $940,055,000 after buying an additional 3,666,736 shares during the last quarter. State Street Corp increased its holdings in shares of TE Connectivity by 1.7% during the 1st quarter. State Street Corp now owns 13,074,160 shares of the electronics maker’s stock worth $823,411,000 after buying an additional 216,573 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of TE Connectivity by 26.3% during the 1st quarter. Wellington Management Group LLP now owns 5,525,707 shares of the electronics maker’s stock worth $348,009,000 after buying an additional 1,150,254 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of TE Connectivity by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 4,418,561 shares of the electronics maker’s stock worth $277,785,000 after buying an additional 57,715 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors.
TEL opened at $81.55 on Wednesday. The business’s 50 day moving average is $79.99 and its 200-day moving average is $82.11. The stock has a market cap of $26.59 billion, a PE ratio of 39.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41. TE Connectivity Ltd has a twelve month low of $48.62 and a twelve month high of $101.00.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.29. TE Connectivity had a net margin of 5.36% and a return on equity of 17.58%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts forecast that TE Connectivity Ltd will post 3.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given 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 was Thursday, May 21st. This represents a $1.92 annualized dividend and a yield of 2.35%. TE Connectivity’s payout ratio is 34.59%.
A number of analysts have recently commented on TEL shares. Oppenheimer started coverage on TE Connectivity in a report on Wednesday, May 6th. They set a “buy” rating and a $92.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $84.00 price target on shares of TE Connectivity in a report on Wednesday, March 18th. Cfra lowered their price target on TE Connectivity from $108.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Robert W. Baird upgraded TE Connectivity from a “neutral” rating to an “outperform” rating and increased their price target for the company from $76.00 to $97.00 in a report on Monday, June 1st. Finally, Bank of America lowered their price target on TE Connectivity from $109.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $92.38.
About TE Connectivity
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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