Logan Capital Management Inc. Raises Holdings in TE Connectivity Ltd. (NYSE:TEL)

Logan Capital Management Inc. raised its position in shares of TE Connectivity Ltd. (NYSE:TELFree Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,407 shares of the electronics maker’s stock after buying an additional 483 shares during the quarter. Logan Capital Management Inc.’s holdings in TE Connectivity were worth $1,181,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth about $10,759,000. Nordea Investment Management AB lifted its position in TE Connectivity by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after buying an additional 41,198 shares during the last quarter. SG Americas Securities LLC boosted its stake in TE Connectivity by 518.3% during the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after buying an additional 130,515 shares during the period. Tower Research Capital LLC TRC increased its position in TE Connectivity by 184.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock valued at $6,163,000 after acquiring an additional 28,449 shares during the last quarter. Finally, Patten Group Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $220,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE TEL opened at $149.67 on Tuesday. The company has a market cap of $45.83 billion, a PE ratio of 13.69, a P/E/G ratio of 2.20 and a beta of 1.35. The firm’s 50 day moving average price is $145.95 and its 200-day moving average price is $141.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $152.79.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.5 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 23.79%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

TEL has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, StockNews.com assumed coverage on shares of TE Connectivity in a report on Sunday. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.89.

Check Out Our Latest Research Report on TEL

TE Connectivity Company Profile

(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.

See Also

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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