Siemens Fonds Invest GmbH Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Siemens Fonds Invest GmbH acquired a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, Holdings Channel reports. The fund acquired 4,208 shares of the electronics maker’s stock, valued at approximately $602,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $909,598,000. Vanguard Group Inc. increased its position in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after buying an additional 4,029,596 shares in the last quarter. Norges Bank acquired a new position in shares of TE Connectivity in the fourth quarter worth $508,199,000. Clearbridge Investments LLC lifted its position in shares of 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 shares of TE Connectivity during the fourth quarter valued at $159,992,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Malavika Sagar sold 3,125 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Trading Up 0.6%

Shares of TEL stock opened at $164.03 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $164.11. The firm’s 50 day moving average price is $142.01 and its two-hundred day moving average price is $146.60. The stock has a market cap of $48.64 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

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

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 62.42%.

Analyst Ratings Changes

A number of brokerages have recently commented on TEL. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. UBS Group reissued a “buy” rating and issued a $163.00 price target (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Finally, Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Four research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

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.