Rehmann Capital Advisory Group Invests $202,000 in TE Connectivity Ltd. $TEL

Rehmann Capital Advisory Group acquired a new position in TE Connectivity Ltd. (NYSE:TEL) in the second quarter, HoldingsChannel reports. The institutional investor acquired 1,195 shares of the electronics maker’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Brighton Jones LLC purchased a new stake in shares of TE Connectivity in the fourth quarter worth $820,000. GAMMA Investing LLC boosted its position in shares of TE Connectivity by 55.9% during the first quarter. GAMMA Investing LLC now owns 4,977 shares of the electronics maker’s stock worth $703,000 after acquiring an additional 1,784 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of TE Connectivity by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker’s stock worth $2,479,000 after acquiring an additional 192 shares during the last quarter. Spire Wealth Management boosted its position in shares of TE Connectivity by 10.8% during the first quarter. Spire Wealth Management now owns 933 shares of the electronics maker’s stock worth $132,000 after acquiring an additional 91 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of TE Connectivity by 508.2% during the first quarter. Golden State Wealth Management LLC now owns 1,849 shares of the electronics maker’s stock worth $262,000 after acquiring an additional 1,545 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEL has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of TE Connectivity from $228.00 to $263.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Citigroup upped their target price on shares of TE Connectivity from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Barclays initiated coverage on shares of TE Connectivity in a research report on Tuesday, October 7th. They set an “overweight” rating and a $249.00 target price for the company. KGI Securities upgraded shares of TE Connectivity to a “hold” rating in a research report on Thursday, July 24th. Finally, Bank of America increased their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus price target of $222.00.

Insider Transactions at TE Connectivity

In other news, SVP Malavika Sagar sold 1,945 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at approximately $977,155.20. This trade represents a 29.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the sale, the executive vice president owned 24,625 shares of the company’s stock, valued at $5,154,751.25. This trade represents a 65.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,645 shares of company stock worth $14,842,096. 0.90% of the stock is currently owned by insiders.

TE Connectivity Price Performance

TE Connectivity stock opened at $235.66 on Friday. The firm has a 50-day moving average price of $215.12 and a 200-day moving average price of $183.71. The firm has a market capitalization of $69.63 billion, a PE ratio of 48.79, a price-to-earnings-growth ratio of 2.54 and a beta of 1.26. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $237.63.

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

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $0.71 dividend. 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 58.80%.

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.