Johnson Financial Group Inc. Boosts Stock Holdings in TE Connectivity Ltd. $TEL

Johnson Financial Group Inc. lifted its stake in TE Connectivity Ltd. (NYSE:TEL) by 126.0% in the first quarter, HoldingsChannel reports. The firm owned 5,646 shares of the electronics maker’s stock after acquiring an additional 3,148 shares during the quarter. Johnson Financial Group Inc.’s holdings in TE Connectivity were worth $1,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEL. Vanguard Group Inc. increased its holdings in TE Connectivity by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock worth $8,741,226,000 after purchasing an additional 168,142 shares during the period. State Street Corp grew its position in shares of TE Connectivity by 0.6% during the fourth quarter. State Street Corp now owns 13,105,219 shares of the electronics maker’s stock worth $2,981,572,000 after buying an additional 76,292 shares in the last quarter. Geode Capital Management LLC grew its position in shares of TE Connectivity by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock worth $1,425,669,000 after buying an additional 161,967 shares in the last quarter. Bank of America Corp DE increased its stake in shares of TE Connectivity by 27.5% during the second 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. Finally, Bank of New York Mellon Corp raised its holdings in TE Connectivity by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock valued at $1,001,907,000 after acquiring an additional 144,353 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TEL opened at $209.02 on Wednesday. The company has a market capitalization of $61.01 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. TE Connectivity Ltd. has a 52-week low of $177.21 and a 52-week high of $252.56. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $205.72 and a 200 day moving average price of $215.53.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.03. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.72 billion. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $2.10 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 11.31 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity’s dividend payout ratio (DPR) is 31.87%.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the completion of the sale, the insider directly owned 25,976 shares of the company’s stock, valued at $5,584,840. The trade was a 26.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TEL has been the subject of a number of recent research reports. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price target for the company. in a research note on Thursday, April 23rd. The Goldman Sachs Group set a $286.00 price objective on shares of TE Connectivity in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $226.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of TE Connectivity from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Evercore reissued an “in-line” rating and issued a $230.00 target price on shares of TE Connectivity in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.31.

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.