Phoenix Financial Ltd. Takes $252,000 Position in TE Connectivity Ltd. $TEL

Phoenix Financial Ltd. purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the second quarter, HoldingsChannel reports. The institutional investor purchased 1,495 shares of the electronics maker’s stock, valued at approximately $252,000.

A number of other institutional investors have also recently made changes to their positions in TEL. Vanguard Group Inc. boosted its holdings in TE Connectivity by 17.0% in the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock worth $5,353,401,000 after purchasing an additional 5,502,415 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in TE Connectivity by 39,846.0% in the second quarter. Valeo Financial Advisors LLC now owns 1,775,598 shares of the electronics maker’s stock worth $299,490,000 after purchasing an additional 1,771,153 shares during the last quarter. Nuveen LLC purchased a new stake in TE Connectivity in the first quarter worth approximately $174,700,000. Wellington Management Group LLP boosted its holdings in TE Connectivity by 17.2% in the first quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker’s stock worth $1,054,133,000 after purchasing an additional 1,097,035 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in TE Connectivity by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker’s stock worth $927,571,000 after purchasing an additional 960,276 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of TE Connectivity from $222.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Wall Street Zen cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 31st. JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Citigroup lifted their price target on shares of TE Connectivity from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TE Connectivity in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.00.

Insider Activity

In other news, SVP Malavika Sagar sold 1,945 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $207.20, for a total transaction of $403,004.00. Following the sale, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. This trade represents a 29.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 23,850 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider owned 25,976 shares in the company, valued at $5,272,868.24. The trade was a 47.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,645 shares of company stock worth $14,842,096 in the last three months. Company insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 0.3%

Shares of TE Connectivity stock opened at $228.99 on Thursday. The company’s fifty day simple moving average is $213.92 and its 200-day simple moving average is $181.74. The stock has a market capitalization of $67.66 billion, a PE ratio of 47.41, a P/E/G ratio of 2.46 and a beta of 1.26. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $237.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 58.80%.

About TE Connectivity

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.