Oregon Public Employees Retirement Fund increased its position in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,719 shares of the electronics maker’s stock after acquiring an additional 8,146 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in TE Connectivity were worth $7,402,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TEL. Norges Bank bought a new position in shares of TE Connectivity in the second quarter worth about $609,158,000. Valeo Financial Advisors LLC grew its holdings in TE Connectivity by 39,846.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,775,598 shares of the electronics maker’s stock valued at $299,490,000 after buying an additional 1,771,153 shares during the last quarter. Bank of America Corp DE increased its position in TE Connectivity by 27.5% in the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock worth $1,058,390,000 after buying an additional 1,352,152 shares during the period. Dodge & Cox lifted its holdings in shares of TE Connectivity by 6.3% during the second quarter. Dodge & Cox now owns 17,039,803 shares of the electronics maker’s stock worth $2,874,104,000 after buying an additional 1,017,323 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of TE Connectivity by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 4,136,447 shares of the electronics maker’s stock valued at $697,694,000 after acquiring an additional 739,453 shares during the period. 91.43% of the stock is currently owned by institutional investors.
TE Connectivity Trading Up 1.6%
TEL stock opened at $231.57 on Friday. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $250.67. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $232.62 and its 200-day moving average is $214.66. The firm has a market cap of $68.12 billion, a P/E ratio of 37.65, a P/E/G ratio of 1.75 and a beta of 1.24.
TE Connectivity Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors 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 1.2%. TE Connectivity’s dividend payout ratio (DPR) is 46.18%.
Wall Street Analyst Weigh In
TEL has been the topic of a number of research reports. Wall Street Zen lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $204.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Evercore ISI upped their price objective on shares of TE Connectivity from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Citigroup lifted their target price on TE Connectivity from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Zacks Research cut TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.85.
View Our Latest Analysis on TEL
Insider Activity
In other news, EVP John S. Jenkins sold 25,021 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $247.73, for a total transaction of $6,198,452.33. Following the completion of the sale, the executive vice president owned 20,903 shares of the company’s stock, valued at approximately $5,178,300.19. This trade represents a 54.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Heath A. Mitts sold 82,300 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $247.15, for a total value of $20,340,445.00. Following the completion of the transaction, the chief financial officer directly owned 45,503 shares in the company, valued at $11,246,066.45. The trade was a 64.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.90% of the company’s stock.
TE Connectivity Company Profile
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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