Wellington Management Group LLP Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Wellington Management Group LLP bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,362,160 shares of the electronics maker's stock, valued at approximately $909,598,000. Wellington Management Group LLP owned about 2.13% of TE Connectivity as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Modera Wealth Management LLC increased its holdings in TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock valued at $409,000 after buying an additional 78 shares in the last quarter. King Luther Capital Management Corp grew its position in shares of TE Connectivity by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock valued at $2,002,000 after acquiring an additional 83 shares during the period. Ascent Wealth Partners LLC increased its stake in shares of TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock valued at $1,231,000 after purchasing an additional 85 shares in the last quarter. Moors & Cabot Inc. raised its holdings in TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock worth $240,000 after purchasing an additional 95 shares during the period. Finally, Callan Capital LLC boosted its position in TE Connectivity by 5.4% during the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker's stock worth $296,000 after purchasing an additional 106 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts have recently commented on TEL shares. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Finally, HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $167.00.

Insider Activity

In related 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 sale, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

Shares of NYSE:TEL traded down $12.16 during midday trading on Thursday, hitting $130.14. The company had a trading volume of 2,922,305 shares, compared to its average volume of 1,680,245. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The business's 50-day simple moving average is $148.83 and its 200-day simple moving average is $148.34. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a twelve month low of $130.00 and a twelve month high of $159.98.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 2.18%. TE Connectivity's dividend payout ratio is 45.37%.

About TE Connectivity

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.