Arnhold LLC Acquires New Holdings in TE Connectivity Ltd. (NYSE:TEL)

Arnhold LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,500 shares of the electronics maker’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new position in shares of TE Connectivity during the third quarter valued at $165,640,000. Assenagon Asset Management S.A. raised its stake in shares of TE Connectivity by 273.5% during 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 during the last quarter. Morgan Stanley raised its stake in shares of TE Connectivity by 11.7% during the third 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% during the third 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 last quarter. Finally, Hsbc Holdings PLC raised its stake 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 valued at $47,675,000 after acquiring an additional 276,183 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Citigroup assumed coverage on shares of TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 target price for the company. Stifel Nicolaus lifted their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $153.50.

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Stock Down 0.9 %

NYSE:TEL traded down $1.35 during trading hours on Tuesday, reaching $141.47. The company had a trading volume of 2,083,911 shares, compared to its average volume of 2,211,779. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a market cap of $43.97 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 2.06 and a beta of 1.39. The business’s 50-day simple moving average is $142.58 and its two-hundred day simple moving average is $136.60. 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 analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the company posted $1.65 earnings per share. On average, equities analysts expect that TE Connectivity Ltd. will post 7.55 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 21.59%.

TE Connectivity Company Profile

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.