Robertson Stephens Wealth Management LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Robertson Stephens Wealth Management LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,451 shares of the electronics maker’s stock, valued at approximately $485,000.

A number of other large investors have also added to or reduced their stakes in the stock. Qube Research & Technologies Ltd purchased a new position in shares of TE Connectivity in the 3rd quarter valued at $165,640,000. Assenagon Asset Management S.A. lifted its position in shares of TE Connectivity by 273.5% in the third quarter. Assenagon Asset Management S.A. now owns 651,291 shares of the electronics maker’s stock valued at $80,454,000 after acquiring an additional 476,929 shares in the last quarter. Morgan Stanley boosted its position in shares of TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of TE Connectivity by 61.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock valued at $118,229,000 after acquiring an additional 364,377 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of TE Connectivity by 251.3% during the third quarter. Hsbc Holdings PLC now owns 386,082 shares of the electronics maker’s stock worth $47,675,000 after buying an additional 276,183 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target for the company. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Stifel Nicolaus raised their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.50.

Insiders Place Their Bets

In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by insiders.

TE Connectivity Price Performance

TEL traded up $1.21 on Friday, reaching $141.22. 391,633 shares of the company’s stock were exchanged, compared to its average volume of 2,175,388. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The stock’s fifty day moving average price is $142.48 and its 200-day moving average price is $136.65. The stock has a market cap of $43.25 billion, a PE ratio of 12.81, a P/E/G ratio of 2.06 and a beta of 1.36. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts expect that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

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.