Robeco Institutional Asset Management B.V. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 0.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 139,758 shares of the electronics maker’s stock after purchasing an additional 760 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in TE Connectivity were worth $19,751,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in TE Connectivity in the 4th quarter worth approximately $909,598,000. Vanguard Group Inc. increased its holdings in TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Norges Bank purchased a new stake in TE Connectivity in the 4th quarter worth approximately $508,199,000. Clearbridge Investments LLC increased its holdings in TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after acquiring an additional 1,702,825 shares in the last quarter. Finally, Amundi purchased a new stake in TE Connectivity in the 4th quarter worth approximately $159,992,000. Institutional investors own 91.43% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on TEL. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $162.50.
Insider Activity at TE Connectivity
In related news, CFO Heath A. Mitts sold 53,306 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at $7,244,532.63. This trade represents a 53.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 13,100 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total value of $2,227,000.00. Following the completion of the sale, the insider now owns 23,657 shares of the company’s stock, valued at approximately $4,021,690. This represents a 35.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,775 shares of company stock valued at $29,596,059. 0.90% of the stock is owned by corporate insiders.
TE Connectivity Trading Down 1.3%
TEL stock opened at $166.85 on Friday. The firm has a fifty day moving average price of $157.63 and a 200 day moving average price of $149.05. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $170.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The firm has a market cap of $49.48 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.
TE Connectivity (NYSE:TEL – Get Free Report) last posted 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 8.67% and a return on equity of 19.40%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the firm posted $1.86 earnings per share. TE Connectivity’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.
About TE Connectivity
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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