Thrivent Financial for Lutherans boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 25.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 153,449 shares of the electronics maker’s stock after acquiring an additional 30,743 shares during the quarter. Thrivent Financial for Lutherans’ holdings in TE Connectivity were worth $15,329,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Avestar Capital LLC purchased a new stake in TE Connectivity in the fourth quarter worth about $116,000. NuWave Investment Management LLC purchased a new stake in TE Connectivity in the fourth quarter worth about $192,000. Courier Capital LLC purchased a new stake in TE Connectivity in the fourth quarter worth about $207,000. Commerce Bank purchased a new stake in TE Connectivity in the first quarter worth about $207,000. Finally, Aspiriant LLC purchased a new stake in TE Connectivity in the first quarter worth about $208,000. Institutional investors own 90.07% of the company’s stock.
TEL has been the subject of a number of analyst reports. Morgan Stanley upped their price target on TE Connectivity from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, April 26th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Friday, March 23rd. Wells Fargo upped their price target on TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $116.00 target price on shares of TE Connectivity in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $139.25.
In related news, SVP Robert J. Ott sold 10,700 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $105.14, for a total transaction of $1,124,998.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven T. Merkt sold 10,684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $102.94, for a total value of $1,099,810.96. Following the transaction, the insider now directly owns 1,983 shares of the company’s stock, valued at $204,130.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,567 shares of company stock valued at $9,955,860. 0.70% of the stock is owned by corporate insiders.
NYSE:TEL opened at $95.16 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.43 and a quick ratio of 0.94. TE Connectivity Ltd. has a 12-month low of $74.14 and a 12-month high of $108.23. The stock has a market cap of $33.32 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 25th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. TE Connectivity had a return on equity of 19.89% and a net margin of 9.39%. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the business posted $1.19 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. research analysts anticipate that TE Connectivity Ltd. will post 5.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 25th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, May 24th. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.85%. TE Connectivity’s dividend payout ratio is presently 33.13%.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.