Linden Thomas Advisory Services LLC Makes New Investment in TE Connectivity Ltd. $TEL

Linden Thomas Advisory Services LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,461 shares of the electronics maker’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of TE Connectivity by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock valued at $5,353,401,000 after purchasing an additional 5,502,415 shares during the last quarter. Dodge & Cox increased its stake in shares of TE Connectivity by 0.4% in the 1st quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker’s stock valued at $2,264,297,000 after purchasing an additional 56,871 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of TE Connectivity by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker’s stock valued at $1,054,133,000 after purchasing an additional 1,097,035 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of TE Connectivity by 17.1% in the 1st quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker’s stock valued at $927,571,000 after purchasing an additional 960,276 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in shares of TE Connectivity by 5.8% in the 1st quarter. EdgePoint Investment Group Inc. now owns 4,108,472 shares of the electronics maker’s stock valued at $580,609,000 after purchasing an additional 224,422 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on TE Connectivity from $198.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Evercore ISI raised their price objective on TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Truist Financial raised their price objective on TE Connectivity from $156.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 24th. KGI Securities raised TE Connectivity to a “hold” rating in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TE Connectivity in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.00.

TE Connectivity Stock Up 0.5%

Shares of TEL opened at $236.82 on Tuesday. The company has a market capitalization of $69.98 billion, a PE ratio of 49.03, a PEG ratio of 2.54 and a beta of 1.26. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $238.99. The stock’s 50-day moving average price is $215.78 and its two-hundred day moving average price is $184.78. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 annualized dividend and a yield of 1.2%. TE Connectivity’s payout ratio is presently 58.80%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of TE Connectivity stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the transaction, the insider directly owned 25,976 shares of the company’s stock, valued at approximately $5,272,868.24. The trade was a 47.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

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.