Mediolanum International Funds Ltd Purchases Shares of 13,600 TE Connectivity Ltd. $TEL

Mediolanum International Funds Ltd purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the first quarter, HoldingsChannel reports. The firm purchased 13,600 shares of the electronics maker’s stock, valued at approximately $2,702,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in TE Connectivity in the 4th quarter worth $25,000. Geneos Wealth Management Inc. lifted its position in shares of TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at about $40,000. MV Capital Management Inc. bought a new position in shares of TE Connectivity in the fourth quarter worth about $41,000. Finally, JFS Wealth Advisors LLC raised its stake in TE Connectivity by 54.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 65 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider directly owned 25,976 shares in the company, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TEL. Evercore restated an “in-line” rating and issued a $230.00 price target on shares of TE Connectivity in a research note on Monday, June 22nd. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 target price for the company. in a research report on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 target price on shares of TE Connectivity in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a report on Monday. Finally, Truist Financial reduced their target price on TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.31.

TE Connectivity Price Performance

TE Connectivity stock opened at $209.02 on Wednesday. TE Connectivity Ltd. has a 52-week low of $177.21 and a 52-week high of $252.56. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $205.72 and its 200 day moving average is $215.53. The company has a market cap of $61.01 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.42 and a beta of 1.17.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the company posted $2.10 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that TE Connectivity Ltd. will post 11.31 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity’s payout ratio is presently 31.87%.

About TE Connectivity

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.