United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 121.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,200 shares of the electronics maker’s stock after acquiring an additional 6,700 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in TE Connectivity were worth $2,678,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Korea Investment CORP raised its holdings in TE Connectivity by 6.2% in the 3rd quarter. Korea Investment CORP now owns 217,899 shares of the electronics maker’s stock worth $47,835,000 after purchasing an additional 12,676 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of TE Connectivity by 49.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 68,123 shares of the electronics maker’s stock valued at $14,955,000 after buying an additional 22,553 shares in the last quarter. Ameriflex Group Inc. increased its position in shares of TE Connectivity by 325.9% in the third quarter. Ameriflex Group Inc. now owns 230 shares of the electronics maker’s stock valued at $51,000 after buying an additional 176 shares in the last quarter. HUB Investment Partners LLC purchased a new position in shares of TE Connectivity during the 3rd quarter valued at approximately $330,000. Finally, Sunpointe LLC acquired a new stake in TE Connectivity in the 3rd quarter valued at $393,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.
TE Connectivity Price Performance
NYSE:TEL opened at $205.99 on Friday. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $250.67. The stock’s fifty day moving average is $228.29 and its two-hundred day moving average is $225.86. The company has a market capitalization of $60.44 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 0.37.
TE Connectivity Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 20th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity’s dividend payout ratio (DPR) is currently 40.98%.
Analyst Ratings Changes
TEL has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $245.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Weiss Ratings upgraded shares of TE Connectivity from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, February 6th. Zacks Research raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Finally, Barclays lifted their price objective on TE Connectivity from $297.00 to $302.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $251.93.
View Our Latest Report on TE Connectivity
Insider Activity
In other news, EVP John S. Jenkins sold 6,155 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $222.81, for a total value of $1,371,395.55. Following the transaction, the executive vice president directly owned 21,810 shares in the company, valued at approximately $4,859,486.10. This represents a 22.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $222.52, for a total transaction of $2,091,688.00. Following the transaction, the insider directly owned 25,976 shares of the company’s stock, valued at $5,780,179.52. The trade was a 26.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,945 shares of company stock valued at $7,528,616. Company insiders own 0.60% of the company’s stock.
About TE Connectivity
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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