Wellington Management Group LLP Raises Position in TE Connectivity Ltd. $TEL

Wellington Management Group LLP grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 17.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,459,195 shares of the electronics maker’s stock after purchasing an additional 1,097,035 shares during the quarter. Wellington Management Group LLP’s holdings in TE Connectivity were worth $1,054,133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in TE Connectivity during the 4th quarter valued at approximately $820,000. Townsquare Capital LLC increased its stake in TE Connectivity by 16.9% during the 4th quarter. Townsquare Capital LLC now owns 2,007 shares of the electronics maker’s stock valued at $287,000 after purchasing an additional 290 shares in the last quarter. Mariner LLC increased its stake in TE Connectivity by 1.4% during the 4th quarter. Mariner LLC now owns 33,099 shares of the electronics maker’s stock valued at $4,732,000 after purchasing an additional 454 shares in the last quarter. Jump Financial LLC acquired a new position in TE Connectivity during the 4th quarter valued at approximately $325,000. Finally, Freedom Investment Management Inc. acquired a new position in TE Connectivity during the 4th quarter valued at approximately $961,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 2.2%

TEL stock opened at $202.50 on Monday. The firm has a market cap of $59.83 billion, a PE ratio of 41.93, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The firm’s fifty day moving average is $182.62 and its 200 day moving average is $159.81. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $212.76.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $1.91 earnings per share. On average, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity’s payout ratio is presently 58.80%.

Insider Transactions at TE Connectivity

In related news, EVP John S. Jenkins sold 45,850 shares of TE Connectivity stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the sale, the executive vice president directly owned 24,625 shares in the company, valued at approximately $5,154,751.25. The trade was a 65.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at approximately $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,795 shares of company stock valued at $26,401,597. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Evercore ISI upped their price target on shares of TE Connectivity from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Thursday, April 24th. Truist Financial lifted their price objective on TE Connectivity from $156.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 24th. UBS Group lifted their price objective on TE Connectivity from $185.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.55.

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.