Rossby Financial LCC Raises Position in TE Connectivity Ltd. $TEL

Rossby Financial LCC raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the electronics maker’s stock after purchasing an additional 57 shares during the period. Rossby Financial LCC’s holdings in TE Connectivity were worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SYM FINANCIAL Corp purchased a new stake in TE Connectivity during the second quarter valued at approximately $225,000. Bessemer Group Inc. raised its holdings in shares of TE Connectivity by 22.0% in the second quarter. Bessemer Group Inc. now owns 548,199 shares of the electronics maker’s stock worth $92,464,000 after buying an additional 98,918 shares during the period. Pasadena Private Wealth LLC purchased a new stake in shares of TE Connectivity in the second quarter worth approximately $230,000. Envestnet Asset Management Inc. raised its holdings in shares of TE Connectivity by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 1,418,075 shares of the electronics maker’s stock worth $239,187,000 after buying an additional 114,342 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of TE Connectivity by 2.9% in the second quarter. Brighton Jones LLC now owns 6,078 shares of the electronics maker’s stock worth $1,025,000 after buying an additional 174 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total value of $4,841,311.50. Following the transaction, the insider owned 25,976 shares of the company’s stock, valued at $5,272,868.24. This represents a 47.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TEL shares. JPMorgan Chase & Co. increased their price target on TE Connectivity from $186.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wall Street Zen downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 31st. KGI Securities upgraded TE Connectivity to a “hold” rating in a report on Thursday, July 24th. Bank of America increased their price target on TE Connectivity from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Barclays initiated coverage on TE Connectivity in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $249.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.00.

TE Connectivity Stock Up 0.1%

Shares of NYSE:TEL opened at $237.06 on Wednesday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $239.75. The stock has a market cap of $70.05 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 2.55 and a beta of 1.26. The business’s 50 day moving average is $216.47 and its 200 day moving average is $185.55. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 annualized dividend and a yield of 1.2%. TE Connectivity’s dividend payout ratio is 58.80%.

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.