Boston Family Office LLC increased its position in TE Connectivity Ltd (NYSE:TEL) by 16.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 44,909 shares of the electronics maker’s stock after buying an additional 6,420 shares during the period. Boston Family Office LLC’s holdings in TE Connectivity were worth $3,348,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TEL. APG Asset Management N.V. boosted its position in TE Connectivity by 41.8% in the third quarter. APG Asset Management N.V. now owns 1,120,769 shares of the electronics maker’s stock valued at $72,155,000 after buying an additional 330,212 shares during the period. Huntington National Bank boosted its stake in shares of TE Connectivity by 560.3% in the third quarter. Huntington National Bank now owns 10,004 shares of the electronics maker’s stock valued at $644,000 after buying an additional 8,489 shares during the last quarter. Becker Capital Management Inc. boosted its stake in shares of TE Connectivity by 0.8% in the third quarter. Becker Capital Management Inc. now owns 605,062 shares of the electronics maker’s stock valued at $38,954,000 after buying an additional 4,640 shares during the last quarter. OLD National Bancorp IN raised its position in TE Connectivity by 35.1% in the third quarter. OLD National Bancorp IN now owns 12,600 shares of the electronics maker’s stock valued at $811,000 after buying an additional 3,277 shares during the period. Finally, River Wealth Advisors LLC raised its position in TE Connectivity by 4.8% in the third quarter. River Wealth Advisors LLC now owns 39,053 shares of the electronics maker’s stock valued at $2,514,000 after buying an additional 1,784 shares during the period. Institutional investors own 91.41% of the company’s stock.
TE Connectivity Ltd (TEL) traded up 1.68% on Monday, hitting $80.03. 1,534,223 shares of the stock traded hands. The stock has a 50 day moving average of $77.27 and a 200 day moving average of $73.91. TE Connectivity Ltd has a 52 week low of $54.54 and a 52 week high of $80.70. The firm has a market capitalization of $28.41 billion, a PE ratio of 13.75 and a beta of 1.04.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.11. TE Connectivity had a net margin of 12.58% and a return on equity of 18.52%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm posted $0.90 EPS. TE Connectivity’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts anticipate that TE Connectivity Ltd will post $4.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.00%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, May 24th. TE Connectivity’s dividend payout ratio is 27.54%.
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TEL has been the subject of a number of recent research reports. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Morgan Stanley increased their target price on TE Connectivity from $85.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of TE Connectivity in a research note on Tuesday, March 28th. Deutsche Bank AG increased their target price on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Cowen and Company began coverage on TE Connectivity in a research report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. TE Connectivity has an average rating of “Buy” and an average price target of $83.29.
In other TE Connectivity news, COO Joseph B. Donahue sold 6,600 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $75.57, for a total transaction of $498,762.00. Following the transaction, the chief operating officer now owns 40,909 shares in the company, valued at approximately $3,091,493.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas J. Lynch sold 131,875 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $73.60, for a total transaction of $9,706,000.00. Following the transaction, the insider now owns 450,662 shares in the company, valued at approximately $33,168,723.20. The disclosure for this sale can be found here. Insiders have sold a total of 460,025 shares of company stock worth $35,330,960 over the last three months. 1.49% of the stock is currently owned by insiders.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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