Logan Capital Management Inc. Buys Shares of 7,006 TE Connectivity Ltd. (NYSE:TEL)

Logan Capital Management Inc. purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 7,006 shares of the electronics maker’s stock, valued at approximately $1,002,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. increased its stake in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in TE Connectivity during the fourth quarter valued at approximately $57,000. 91.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In related news, CFO Heath A. Mitts sold 37,844 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the completion of the transaction, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at approximately $6,976,974.99. This represents a 45.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,844 shares of company stock worth $13,953,571. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several analyst reports. Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Friday, April 25th. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. UBS Group reiterated a “buy” rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average price target of $159.50.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $161.06 on Tuesday. 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 firm has a market cap of $47.76 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The stock’s 50-day moving average is $140.80 and its 200-day moving average is $146.26. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $161.15.

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

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.76%. TE Connectivity’s dividend payout ratio is presently 62.42%.

TE Connectivity 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.