TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,879 shares of the electronics maker’s stock after purchasing an additional 511 shares during the quarter. Assenagon Asset Management S.A.’s holdings in TE Connectivity were worth $3,516,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEL. Wellington Management Group LLP acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $909,598,000. Vanguard Group Inc. grew its position in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Norges Bank acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $508,199,000. Clearbridge Investments LLC grew its position in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after acquiring an additional 1,702,825 shares in the last quarter. Finally, Amundi acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $159,992,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $162.48 on Monday. The company has a market cap of $48.18 billion, a PE ratio of 25.96, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a fifty day moving average price of $150.32 and a two-hundred day moving average price of $148.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $167.94.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, August 22nd. TE Connectivity’s payout ratio is 62.42%.

Analysts Set New Price Targets

Several brokerages have issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. UBS Group increased their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research report on Thursday, April 24th. Finally, Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $162.50.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John S. Jenkins sold 20,400 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now owns 24,625 shares in the company, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,675 shares of company stock worth $27,369,059. 0.90% of the stock is owned by insiders.

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.