Generali Asset Management SPA SGR Invests $6.30 Million in TE Connectivity Ltd. (NYSE:TEL)

Generali Asset Management SPA SGR purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 44,054 shares of the electronics maker’s stock, valued at approximately $6,298,000.

Several other institutional investors have also added to or reduced their stakes in the company. Cibc World Markets Corp raised its position in TE Connectivity by 14.7% during the fourth quarter. Cibc World Markets Corp now owns 47,425 shares of the electronics maker’s stock valued at $6,780,000 after purchasing an additional 6,095 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of TE Connectivity by 43.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 55,951 shares of the electronics maker’s stock worth $7,999,000 after purchasing an additional 17,064 shares during the last quarter. Choate Investment Advisors bought a new stake in TE Connectivity during the fourth quarter valued at $636,000. Natixis Advisors LLC boosted its position in TE Connectivity by 4.2% during the fourth quarter. Natixis Advisors LLC now owns 159,112 shares of the electronics maker’s stock valued at $22,748,000 after acquiring an additional 6,394 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in TE Connectivity during the fourth quarter valued at $269,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Stock Performance

TEL opened at $146.80 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a 50 day simple moving average of $148.67 and a two-hundred day simple moving average of $148.40. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The firm has a market cap of $43.80 billion, a P/E ratio of 23.45, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.93%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by company insiders.

TE Connectivity 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.