Paradiem LLC Purchases New Position in TE Connectivity Ltd. (NYSE:TEL)

Paradiem LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 96,881 shares of the electronics maker’s stock, valued at approximately $13,691,000. TE Connectivity makes up about 3.8% of Paradiem LLC’s investment portfolio, making the stock its 4th largest holding.

A number of other large investors have also modified their holdings of the stock. SRS Capital Advisors Inc. grew its holdings in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new position in TE Connectivity during the 4th quarter valued at approximately $43,000. Global X Japan Co. Ltd. acquired a new position in TE Connectivity during the 1st quarter valued at about $47,000. Deseret Mutual Benefit Administrators acquired a new position in shares of TE Connectivity during the fourth quarter worth approximately $57,000. Finally, Loomis Sayles & Co. L P boosted its position in TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock worth $71,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEL. Robert W. Baird boosted their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus price target of $162.50.

TE Connectivity Stock Down 0.4%

TEL stock opened at $163.19 on Friday. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $167.94. The firm has a market cap of $48.39 billion, a PE ratio of 35.87, a P/E/G ratio of 2.13 and a beta of 1.23. The firm has a 50 day simple moving average of $153.80 and a 200 day simple moving average of $148.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, August 22nd. TE Connectivity’s dividend payout ratio is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In related news, CFO Heath A. Mitts sold 53,306 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the sale, the chief financial officer now owns 45,503 shares in the company, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now owns 24,625 shares of the company’s stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is currently owned by corporate insiders.

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.