Clearbridge Investments LLC Acquires 1,702,825 Shares of TE Connectivity Ltd. (NYSE:TEL)

Clearbridge Investments LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 72.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,064,822 shares of the electronics maker's stock after buying an additional 1,702,825 shares during the period. Clearbridge Investments LLC owned 1.36% of TE Connectivity worth $581,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC lifted its stake in TE Connectivity by 17.0% in the 3rd quarter. Algert Global LLC now owns 3,857 shares of the electronics maker's stock valued at $582,000 after purchasing an additional 560 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of TE Connectivity by 13.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker's stock worth $1,974,000 after acquiring an additional 1,600 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in TE Connectivity by 6.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,941 shares of the electronics maker's stock valued at $293,000 after buying an additional 120 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of TE Connectivity during the third quarter worth approximately $1,473,000. Finally, Atom Investors LP increased its position in TE Connectivity by 238.1% during the third quarter. Atom Investors LP now owns 4,707 shares of the electronics maker's stock worth $711,000 after acquiring an additional 3,315 shares during the period. 91.43% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. Bank of America boosted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of "Hold" and a consensus price target of $167.00.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

Shares of NYSE:TEL traded down $9.73 during trading on Thursday, hitting $132.56. 1,126,838 shares of the company were exchanged, compared to its average volume of 1,673,389. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1-year low of $131.35 and a 1-year high of $159.98. The company has a market capitalization of $39.55 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The business's 50 day moving average is $148.83 and its 200-day moving average is $148.34.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $1.84 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.14%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio is presently 45.37%.

TE Connectivity 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.