UBS Group AG lessened its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,414 shares of the electronics maker’s stock after selling 164,799 shares during the quarter. UBS Group AG owned about 0.16% of TE Connectivity worth $56,785,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of TE Connectivity by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 9,550 shares of the electronics maker’s stock worth $908,000 after acquiring an additional 516 shares during the last quarter. Wealthstreet Investment Advisors LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $887,000. NuWave Investment Management LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $192,000. Catalyst Capital Advisors LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $356,000. Finally, New Mexico Educational Retirement Board boosted its holdings in TE Connectivity by 3.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 34,000 shares of the electronics maker’s stock worth $3,231,000 after buying an additional 1,000 shares during the period. 90.11% of the stock is currently owned by institutional investors.
Shares of TEL opened at $97.14 on Thursday. TE Connectivity Ltd has a twelve month low of $77.15 and a twelve month high of $108.23. The firm has a market capitalization of $34.03 billion, a PE ratio of 20.11, a PEG ratio of 1.59 and a beta of 1.08. The company has a current ratio of 1.43, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.
The business also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 25th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, May 24th. This is an increase from TE Connectivity’s previous quarterly dividend of $0.40. TE Connectivity’s dividend payout ratio (DPR) is currently 36.44%.
TEL has been the topic of several research reports. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research report on Wednesday, June 6th. Robert W. Baird reiterated a “buy” rating and issued a $123.00 target price on shares of TE Connectivity in a research report on Tuesday, April 17th. Oppenheimer initiated coverage on shares of TE Connectivity in a research report on Monday, March 26th. They issued an “outperform” rating and a $120.00 price objective on the stock. Goldman Sachs Group upgraded shares of TE Connectivity from a “sell” rating to a “neutral” rating and set a $101.00 price objective on the stock in a research report on Wednesday, April 18th. Finally, ValuEngine lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and a consensus price target of $113.64.
In related news, SVP Tim Murphy sold 17,100 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $96.20, for a total value of $1,645,020.00. Following the transaction, the senior vice president now owns 14,652 shares of the company’s stock, valued at approximately $1,409,522.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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