Piscataqua Savings Bank Acquires 177 Shares of TE Connectivity Ltd. (NYSE:TEL)

Piscataqua Savings Bank increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,904 shares of the electronics maker’s stock after acquiring an additional 177 shares during the quarter. TE Connectivity accounts for approximately 1.4% of Piscataqua Savings Bank’s portfolio, making the stock its 21st largest position. Piscataqua Savings Bank’s holdings in TE Connectivity were worth $1,541,000 as of its most recent SEC filing.

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

Insider Buying and Selling at TE Connectivity

In related news, CFO Heath A. Mitts sold 37,844 shares of the stock in a transaction dated Friday, May 9th. The shares were 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 owns 45,503 shares in the company, valued at approximately $6,976,974.99. This represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock worth $27,369,059 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TEL has been the subject of several recent research reports. Citigroup decreased their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. UBS Group boosted their price target on shares of TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird boosted their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $162.50.

TE Connectivity Stock Performance

NYSE TEL opened at $164.71 on Friday. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $165.15. 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 $48.84 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.11 and a beta of 1.23. The company has a fifty day moving average price of $146.59 and a 200-day moving average price of $147.61.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) 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 business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the firm posted $1.86 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 62.42%.

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.