Ninety One North America Inc. Buys 17,322 Shares of TE Connectivity Ltd. (NYSE:TEL)

Ninety One North America Inc. raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 39.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 61,289 shares of the electronics maker’s stock after purchasing an additional 17,322 shares during the period. Ninety One North America Inc.’s holdings in TE Connectivity were worth $8,611,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after purchasing an additional 308,580 shares during the period. State Street Corp grew its holdings in TE Connectivity by 19.5% during the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after purchasing an additional 2,309,835 shares during the period. Geode Capital Management LLC grew its holdings in TE Connectivity by 1.2% during the first quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock valued at $697,471,000 after purchasing an additional 62,134 shares during the period. Norges Bank bought a new stake in TE Connectivity during the fourth quarter valued at about $584,131,000. Finally, Invesco Ltd. grew its holdings in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after purchasing an additional 154,496 shares during the period. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TEL shares. Robert W. Baird boosted their price objective on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Citigroup started coverage on TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Stifel Nicolaus boosted their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL traded down $0.03 during mid-day trading on Thursday, reaching $141.45. The stock had a trading volume of 661,703 shares, compared to its average volume of 2,084,548. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $43.96 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The business’s 50 day moving average price is $142.77 and its 200 day moving average price is $135.37.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

TE Connectivity Company Profile

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.