Tower Research Capital LLC TRC Raises Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Tower Research Capital LLC TRC lifted its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 302.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,564 shares of the electronics maker's stock after buying an additional 15,459 shares during the quarter. Tower Research Capital LLC TRC's holdings in TE Connectivity were worth $2,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. grew its holdings in TE Connectivity by 117.6% during the 4th 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 in the last quarter. Fairway Wealth LLC purchased a new position in TE Connectivity during the 4th quarter valued at approximately $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank bought a new position in shares of TE Connectivity during the 4th quarter valued at approximately $55,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 5.4 %

TE Connectivity stock traded up $7.40 during mid-day trading on Thursday, hitting $143.46. The company's stock had a trading volume of 2,544,644 shares, compared to its average volume of 1,696,812. The stock has a market cap of $42.80 billion, a PE ratio of 22.92, a P/E/G ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a one year low of $116.30 and a one year 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 company has a 50 day moving average of $141.65 and a 200-day moving average of $146.09.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.98%. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Thursday. Bank of America upped 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. Citigroup dropped their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company's stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company's stock.

TE Connectivity Company 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.