Wellington Management Group LLP lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 48.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,709,235 shares of the electronics maker’s stock after buying an additional 2,507,569 shares during the quarter. Wellington Management Group LLP’s holdings in TE Connectivity were worth $1,554,259,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $820,000. Sivia Capital Partners LLC lifted its stake in TE Connectivity by 66.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,517 shares of the electronics maker’s stock valued at $425,000 after buying an additional 1,007 shares in the last quarter. Walleye Capital LLC grew its holdings in TE Connectivity by 14.6% during the 2nd quarter. Walleye Capital LLC now owns 2,688 shares of the electronics maker’s stock valued at $453,000 after buying an additional 343 shares during the last quarter. Squarepoint Ops LLC increased its position in TE Connectivity by 1,214.0% during the second quarter. Squarepoint Ops LLC now owns 105,267 shares of the electronics maker’s stock worth $17,755,000 after buying an additional 97,256 shares in the last quarter. Finally, Ieq Capital LLC increased its position in TE Connectivity by 75.0% during the second quarter. Ieq Capital LLC now owns 23,284 shares of the electronics maker’s stock worth $3,927,000 after buying an additional 9,980 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
TE Connectivity Stock Down 0.1%
Shares of NYSE TEL opened at $202.79 on Friday. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56. The company has a market cap of $58.71 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.36 and a beta of 1.16. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $205.23 and a 200 day moving average price of $211.60.
TE Connectivity Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 21st. TE Connectivity’s dividend payout ratio is currently 30.59%.
Wall Street Analyst Weigh In
TEL has been the topic of several recent research reports. Barclays upped their price objective on TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Citigroup dropped their price objective on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. UBS Group restated a “buy” rating and issued a $241.00 target price on shares of TE Connectivity in a report on Thursday, July 23rd. Zacks Research cut shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Wells Fargo & Company lowered their price target on shares of TE Connectivity from $230.00 to $209.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $251.15.
Read Our Latest Analysis on TE Connectivity
Insider Activity at TE Connectivity
In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction on 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 transaction, the insider directly owned 25,976 shares in the company, valued at $5,584,840. This represents a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
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.
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