Logan Capital Management Inc. Buys New Position in TE Connectivity Ltd. (NYSE:TEL)

Logan Capital Management Inc. purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 7,006 shares of the electronics maker’s stock, valued at approximately $1,002,000.

A number of other large investors also recently modified their holdings of TEL. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. increased its stake in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Deseret Mutual Benefit Administrators bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $57,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TEL. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Robert W. Baird lifted their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Friday, April 25th. Finally, StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

TE Connectivity Stock Performance

NYSE:TEL opened at $161.06 on Tuesday. The stock has a market capitalization of $47.76 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $161.15. The firm has a 50 day moving average of $140.80 and a 200-day moving average of $146.26.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,844 shares of company stock worth $13,953,571. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Company Profile

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.