World Investment Advisors purchased a new stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,196 shares of the electronics maker’s stock, valued at approximately $370,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new stake in shares of TE Connectivity in the second quarter valued at about $26,000. Costello Asset Management INC bought a new stake in shares of TE Connectivity in the 1st quarter worth approximately $28,000. Salomon & Ludwin LLC grew its holdings in shares of TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 66 shares in the last quarter. Millstone Evans Group LLC bought a new position in TE Connectivity during the first quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in TE Connectivity during the second quarter valued at approximately $33,000. Institutional investors own 91.43% of the company’s stock.
TE Connectivity Trading Down 0.0%
TEL opened at $246.92 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.96 and a current ratio of 1.56. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $248.59. The firm’s fifty day moving average is $219.79 and its two-hundred day moving average is $189.21. The firm has a market cap of $72.96 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.24 and a beta of 1.26.
TE Connectivity Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 21st. TE Connectivity’s payout ratio is currently 46.18%.
Wall Street Analyst Weigh In
TEL has been the topic of several recent analyst reports. KGI Securities upgraded shares of TE Connectivity to a “hold” rating in a research note on Thursday, July 24th. Robert W. Baird boosted their target price on TE Connectivity from $222.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. UBS Group increased their target price on TE Connectivity from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Barclays started coverage on TE Connectivity in a report on Tuesday, October 7th. They issued an “overweight” rating and a $249.00 price target for the company. Finally, Evercore ISI upped their price objective on TE Connectivity from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.25.
View Our Latest Stock Analysis on TE Connectivity
Insider Transactions at TE Connectivity
In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the completion of the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,272,868.24. This represents a 47.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.
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.
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