Johnson Financial Group Inc. Increases Stock Holdings in TE Connectivity Ltd. $TEL

Johnson Financial Group Inc. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 126.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,646 shares of the electronics maker’s stock after purchasing an additional 3,148 shares during the period. Johnson Financial Group Inc.’s holdings in TE Connectivity were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TEL. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its position in shares of TE Connectivity by 189.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock valued at $33,000 after buying an additional 127 shares during the period. Commonwealth Retirement Investments LLC acquired a new position in TE Connectivity in the fourth quarter valued at approximately $40,000. MV Capital Management Inc. acquired a new position in TE Connectivity in the fourth quarter valued at approximately $41,000. Finally, JFS Wealth Advisors LLC grew its position in TE Connectivity by 54.6% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 65 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TEL shares. Wall Street Zen upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company raised their price objective on TE Connectivity from $226.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Truist Financial reduced their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Barclays upped their target price on shares of TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $255.31.

TE Connectivity Trading Up 2.9%

TEL opened at $209.02 on Wednesday. TE Connectivity Ltd. has a 52 week low of $177.21 and a 52 week high of $252.56. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $205.72 and a 200-day simple moving average of $215.53. The firm has a market cap of $61.01 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.42 and a beta of 1.17.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities analysts expect that TE Connectivity Ltd. will post 11.31 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, August 21st. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio is 31.87%.

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.