Gateway Investment Advisers LLC Purchases 351 Shares of TE Connectivity Ltd. (NYSE:TEL)

Gateway Investment Advisers LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TELFree Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,936 shares of the electronics maker’s stock after buying an additional 351 shares during the period. Gateway Investment Advisers LLC’s holdings in TE Connectivity were worth $415,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of TE Connectivity during the fourth quarter valued at about $909,598,000. Vanguard Group Inc. boosted its holdings in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the last quarter. Norges Bank purchased a new position in TE Connectivity during the fourth quarter worth about $508,199,000. Clearbridge Investments LLC boosted its holdings in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Amundi purchased a new position in TE Connectivity during the fourth quarter worth about $159,992,000. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the topic of several research reports. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Friday, April 25th. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.50.

Get Our Latest Research Report on TEL

Insiders Place Their Bets

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the transaction, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at $3,678,728.75. This represents a 54.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 174,675 shares of company stock valued at $27,369,059. Company insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 0.6%

NYSE TEL opened at $165.62 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $147.06 and a two-hundred day simple moving average of $147.68. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $166.60. The stock has a market cap of $49.11 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.11 and a beta of 1.23.

TE Connectivity (NYSE:TELGet Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business earned $1.86 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s payout ratio is currently 62.42%.

About TE Connectivity

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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