Securian Asset Management Inc. acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,991 shares of the electronics maker's stock, valued at approximately $2,286,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its stake in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the fourth quarter valued at $43,000. Golden State Wealth Management LLC bought a new position in shares of TE Connectivity during the fourth quarter worth about $44,000. Finally, Hilltop National Bank acquired a new stake in shares of TE Connectivity in the 4th quarter worth about $55,000. Institutional investors and hedge funds own 91.43% of the company's stock.
Insider Activity
In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.
TE Connectivity Price Performance
NYSE TEL traded up $1.00 on Monday, reaching $146.88. The company's stock had a trading volume of 1,160,229 shares, compared to its average volume of 1,621,345. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm's 50 day moving average is $148.53 and its two-hundred day moving average is $148.48. The stock has a market cap of $43.82 billion, a PE ratio of 23.46, a PEG ratio of 2.11 and a beta of 1.32.
TE Connectivity (NYSE:TEL - Get Free Report) last released 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 business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Increases Dividend
The business also recently announced 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 dividend yield of 1.93%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's payout ratio is presently 41.53%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of "Hold" and a consensus target price of $167.00.
View Our Latest Report on TE Connectivity
About TE Connectivity
(
Free Report)
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.
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