TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,246 shares of the electronics maker’s stock after buying an additional 657 shares during the quarter. TE Connectivity comprises 2.2% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 27th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in TE Connectivity were worth $16,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEL. Brighton Jones LLC purchased a new position in TE Connectivity during the fourth quarter valued at approximately $820,000. SRS Capital Advisors Inc. raised its stake in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Jones Financial Companies Lllp raised its stake in TE Connectivity by 23.5% during the 4th quarter. Jones Financial Companies Lllp now owns 3,305 shares of the electronics maker’s stock valued at $473,000 after purchasing an additional 628 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker’s stock valued at $949,000 after purchasing an additional 841 shares during the last quarter. Finally, Keybank National Association OH raised its stake in TE Connectivity by 4.1% during the 4th quarter. Keybank National Association OH now owns 7,181 shares of the electronics maker’s stock valued at $1,027,000 after purchasing an additional 286 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP John S. Jenkins sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president owned 24,625 shares of the company’s stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the completion of the sale, the chief financial officer directly owned 45,503 shares of the company’s stock, valued at approximately $7,244,532.63. The trade was a 53.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 187,775 shares of company stock worth $29,596,059. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEL. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Thursday, April 24th. Robert W. Baird increased their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their price target on shares of TE Connectivity from $156.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.90.

TE Connectivity Trading Up 0.5%

Shares of TE Connectivity stock opened at $174.29 on Friday. The company has a market capitalization of $51.69 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 2.28 and a beta of 1.23. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $175.03. The firm’s 50-day moving average price is $161.13 and its two-hundred day moving average price is $149.86.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping 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 analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.63%. TE Connectivity’s payout ratio is 62.42%.

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.