TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 61.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,874 shares of the electronics maker’s stock after acquiring an additional 2,615 shares during the quarter. Stonegate Investment Group LLC’s holdings in TE Connectivity were worth $971,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $43,000. Global X Japan Co. Ltd. acquired a new stake in shares of TE Connectivity in the 1st quarter valued at about $47,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $57,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock valued at $71,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $163.19 on Friday. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $167.94. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The company 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.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. TE Connectivity’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEL. Citigroup cut their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. 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. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Thursday, April 24th. UBS Group upped their target price 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. Finally, The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.50.

Insiders Place Their Bets

In other TE Connectivity news, CFO Heath A. Mitts sold 37,844 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $153.33, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares of the company’s stock, valued at $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,675 shares of company stock worth $27,369,059. Insiders own 0.90% of the company’s stock.

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.