TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Kennebec Savings Bank

Kennebec Savings Bank lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,924 shares of the electronics maker’s stock after buying an additional 143 shares during the quarter. Kennebec Savings Bank’s holdings in TE Connectivity were worth $555,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Charter Oak Capital Management LLC acquired a new position in shares of TE Connectivity during the 1st quarter worth approximately $1,069,000. Wedmont Private Capital increased its position in shares of TE Connectivity by 4.3% during the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 80 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of TE Connectivity during the first quarter worth approximately $213,000. Piscataqua Savings Bank increased its position in shares of TE Connectivity by 1.7% during the first quarter. Piscataqua Savings Bank now owns 10,904 shares of the electronics maker’s stock worth $1,541,000 after purchasing an additional 177 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of TE Connectivity by 13.6% during the first quarter. Gateway Investment Advisers LLC now owns 2,936 shares of the electronics maker’s stock worth $415,000 after purchasing an additional 351 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP John S. Jenkins sold 30,000 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president now owns 24,625 shares of the company’s stock, valued at $3,678,728.75. This represents a 54.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 37,844 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the transaction, the chief financial officer now directly owns 45,503 shares in the company, valued at approximately $6,976,974.99. This trade represents a 45.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,369,059 in the last quarter. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 1.5%

Shares of NYSE:TEL opened at $164.71 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $146.59 and a two-hundred day moving average of $147.61. The stock has a market cap of $48.84 billion, a P/E ratio of 26.31, a PEG ratio of 2.11 and a beta of 1.23. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $165.15.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 EPS. On average, research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 62.42%.

Analysts Set New Price Targets

Several analysts recently commented on TEL shares. UBS Group boosted their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Wells Fargo & Company boosted their price target on TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Friday, April 25th. The Goldman Sachs Group dropped their price target on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Citigroup dropped their price target on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $162.50.

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.