LPL Financial LLC lifted its position in shares of TE Connectivity Ltd (NYSE:TEL) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,969 shares of the electronics maker’s stock after purchasing an additional 4,443 shares during the period. LPL Financial LLC’s holdings in TE Connectivity were worth $5,591,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Bamco Inc. NY bought a new position in TE Connectivity in the first quarter worth about $108,000. Avestar Capital LLC bought a new position in TE Connectivity in the fourth quarter worth about $116,000. Institutional & Family Asset Management LLC bought a new position in TE Connectivity in the first quarter worth about $196,000. Commerce Bank bought a new position in TE Connectivity in the first quarter worth about $207,000. Finally, Aspiriant LLC bought a new position in TE Connectivity in the first quarter worth about $208,000. Institutional investors own 89.90% of the company’s stock.
TEL has been the subject of a number of research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Friday, March 23rd. Oppenheimer initiated coverage on shares of TE Connectivity in a research note on Monday, March 26th. They issued an “outperform” rating and a $120.00 price target for the company. Robert W. Baird reissued a “buy” rating and issued a $123.00 price target on shares of TE Connectivity in a research note on Tuesday, April 17th. Goldman Sachs Group raised shares of TE Connectivity from a “sell” rating to a “neutral” rating and set a $101.00 price target for the company in a research note on Wednesday, April 18th. Finally, Morgan Stanley increased their price target on shares of TE Connectivity from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. TE Connectivity currently has a consensus rating of “Buy” and an average target price of $113.64.
Shares of NYSE TEL opened at $95.13 on Monday. TE Connectivity Ltd has a fifty-two week low of $77.15 and a fifty-two week high of $108.23. The company has a market cap of $33.44 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.57 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.35.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 25th. The electronics maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.06. TE Connectivity had a net margin of 9.39% and a return on equity of 19.89%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. sell-side analysts anticipate that TE Connectivity Ltd will post 5.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, May 25th were paid a dividend of $0.44 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio (DPR) is currently 36.44%.
In other TE Connectivity news, SVP Tim Murphy sold 17,100 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $96.20, for a total transaction of $1,645,020.00. Following the completion of the transaction, the senior vice president now owns 14,652 shares of the company’s stock, valued at $1,409,522.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.
About TE Connectivity
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.
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