Foster & Motley Inc. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Foster & Motley Inc. lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 22.0% during the 1st quarter, HoldingsChannel reports. The fund owned 23,845 shares of the electronics maker’s stock after acquiring an additional 4,298 shares during the period. Foster & Motley Inc.’s holdings in TE Connectivity were worth $3,370,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in shares of TE Connectivity in the 1st quarter valued at about $32,000. North Capital Inc. purchased a new stake in TE Connectivity during the first quarter worth approximately $46,000. Global X Japan Co. Ltd. purchased a new stake in TE Connectivity during the 1st quarter worth $47,000. Bartlett & CO. Wealth Management LLC increased its holdings in TE Connectivity by 650.8% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker’s stock valued at $69,000 after purchasing an additional 423 shares in the last quarter. Finally, Ancora Advisors LLC lifted its stake in shares of TE Connectivity by 150.0% during the fourth quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker’s stock worth $71,000 after purchasing an additional 300 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the transaction, the senior vice president directly owned 4,716 shares in the company, valued at approximately $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 45,503 shares in the company, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,470 shares of company stock valued at $49,794,905. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 1.3%

NYSE:TEL opened at $206.50 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $212.76. The firm’s 50 day simple moving average is $172.52 and its 200 day simple moving average is $155.12. The company has a market cap of $61.02 billion, a PE ratio of 42.75, a P/E/G ratio of 2.52 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the business earned $1.91 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.38%. TE Connectivity’s dividend payout ratio is presently 58.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TEL shares. Robert W. Baird raised their price objective on TE Connectivity from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. KGI Securities upgraded TE Connectivity to a “hold” rating in a research report on Thursday, July 24th. UBS Group lifted their price target on TE Connectivity from $185.00 to $201.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Friday, April 25th. Finally, Citigroup boosted their price target on shares of TE Connectivity from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.80.

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.