Childress Capital Advisors LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,190 shares of the electronics maker’s stock, valued at approximately $481,000.
A number of other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TE Connectivity by 11.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,418 shares of the electronics maker’s stock worth $7,078,000 after purchasing an additional 4,310 shares in the last quarter. Nordea Investment Management AB grew its stake in TE Connectivity by 54.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,605,782 shares of the electronics maker’s stock valued at $269,723,000 after buying an additional 565,857 shares in the last quarter. Vanguard Group Inc. raised its holdings in TE Connectivity by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 38,292,320 shares of the electronics maker’s stock valued at $6,458,766,000 after acquiring an additional 410,910 shares during the period. Vise Technologies Inc. purchased a new stake in shares of TE Connectivity during the second quarter worth $917,000. Finally, AlphaCore Capital LLC bought a new position in shares of TE Connectivity in the second quarter worth $370,000. 91.43% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Price Performance
Shares of NYSE:TEL opened at $229.61 on Thursday. The company’s fifty day moving average price is $233.25 and its 200-day moving average price is $214.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.56 and a quick ratio of 1.03. The firm has a market capitalization of $67.55 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 1.78 and a beta of 1.24. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $250.67.
TE Connectivity Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 20th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity’s dividend payout ratio is 46.18%.
Insider Buying and Selling
In other TE Connectivity news, CFO Heath A. Mitts sold 82,300 shares of TE Connectivity stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $247.15, for a total transaction of $20,340,445.00. Following the transaction, the chief financial officer directly owned 45,503 shares of the company’s stock, valued at approximately $11,246,066.45. This trade represents a 64.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 25,021 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $247.73, for a total transaction of $6,198,452.33. Following the completion of the sale, the executive vice president directly owned 20,903 shares of the company’s stock, valued at $5,178,300.19. This trade represents a 54.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.90% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on TE Connectivity from $241.00 to $245.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 9th. Zacks Research lowered shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Citigroup upped their target price on shares of TE Connectivity from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. UBS Group raised their price target on shares of TE Connectivity from $260.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Barclays upped their price target on shares of TE Connectivity from $277.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $244.85.
Check Out Our Latest Stock Report on TEL
TE Connectivity Profile
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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