ING Groep NV raised its position in TE Connectivity Ltd. (NYSE:TEL) by 14.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 38,364 shares of the electronics maker’s stock after buying an additional 4,930 shares during the period. ING Groep NV’s holdings in TE Connectivity were worth $3,833,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avestar Capital LLC bought a new position in TE Connectivity in the 4th quarter valued at $116,000. NuWave Investment Management LLC bought a new position in TE Connectivity in the 4th quarter valued at $192,000. Courier Capital LLC bought a new position in TE Connectivity in the 4th quarter valued at $207,000. Commerce Bank bought a new position in TE Connectivity in the 1st quarter valued at $207,000. Finally, Aspiriant LLC bought a new position in TE Connectivity in the 1st quarter valued at $208,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.
A number of research analysts have commented on the company. SunTrust Banks reiterated a “hold” rating and issued a $102.00 price objective on shares of TE Connectivity in a research report on Thursday, January 25th. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $116.00 price objective on shares of TE Connectivity in a research report on Wednesday, January 24th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Monday, January 15th. Finally, Citigroup increased their price objective on TE Connectivity from $106.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $139.25.
In related news, insider Thomas J. Lynch sold 76,183 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $101.48, for a total transaction of $7,731,050.84. Following the sale, the insider now owns 254,715 shares of the company’s stock, valued at approximately $25,848,478.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven T. Merkt sold 10,684 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.94, for a total value of $1,099,810.96. Following the sale, the insider now directly owns 1,983 shares in the company, valued at approximately $204,130.02. The disclosure for this sale can be found here. Insiders have sold a total of 97,567 shares of company stock worth $9,955,860 in the last ninety days. 0.70% of the stock is currently owned by company insiders.
TE Connectivity opened at $95.05 on Tuesday, Marketbeat.com reports. TE Connectivity Ltd. has a 12-month low of $94.75 and a 12-month high of $95.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.43. The firm has a market capitalization of $33.12 billion, a PE ratio of 17.81, a P/E/G ratio of 1.55 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 25th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.06. TE Connectivity had a return on equity of 19.89% and a net margin of 9.39%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the company earned $1.19 EPS. The firm’s revenue was up 16.1% on a year-over-year basis. analysts forecast that TE Connectivity Ltd. will post 5.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be given a $0.44 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, May 24th. TE Connectivity’s dividend payout ratio (DPR) is currently 33.13%.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL).
Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.