FormulaFolio Investments LLC Invests $501,000 in TE Connectivity Ltd (TEL)

FormulaFolio Investments LLC purchased a new stake in shares of TE Connectivity Ltd (NYSE:TEL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,201 shares of the electronics maker’s stock, valued at approximately $501,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MML Investors Services LLC raised its holdings in shares of TE Connectivity by 8.2% during the fourth quarter. MML Investors Services LLC now owns 7,651 shares of the electronics maker’s stock valued at $579,000 after buying an additional 577 shares during the last quarter. Legal & General Group Plc increased its stake in shares of TE Connectivity by 21.5% during the fourth quarter. Legal & General Group Plc now owns 2,052,335 shares of the electronics maker’s stock valued at $155,047,000 after acquiring an additional 362,868 shares during the period. Squarepoint Ops LLC increased its stake in shares of TE Connectivity by 9.8% during the fourth quarter. Squarepoint Ops LLC now owns 287,614 shares of the electronics maker’s stock valued at $21,752,000 after acquiring an additional 25,761 shares during the period. CWM Advisors LLC increased its stake in shares of TE Connectivity by 16.1% during the fourth quarter. CWM Advisors LLC now owns 7,065 shares of the electronics maker’s stock valued at $534,000 after acquiring an additional 981 shares during the period. Finally, Covington Capital Management increased its stake in shares of TE Connectivity by 433.3% during the fourth quarter. Covington Capital Management now owns 800 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 650 shares during the period. 91.00% of the stock is currently owned by institutional investors.

NYSE TEL opened at $89.27 on Wednesday. TE Connectivity Ltd has a 12 month low of $69.84 and a 12 month high of $99.52. The company has a current ratio of 1.41, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The company has a market cap of $30.16 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.49 and a beta of 1.10.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.15. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Sell-side analysts predict that TE Connectivity Ltd will post 5.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, May 23rd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.44. TE Connectivity’s dividend payout ratio (DPR) is currently 31.37%.

A number of research analysts recently commented on TEL shares. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. ValuEngine lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. TE Connectivity currently has a consensus rating of “Hold” and an average price target of $94.43.

In other TE Connectivity news, Director Thomas J. Lynch sold 68,516 shares of TE Connectivity stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $95.36, for a total value of $6,533,685.76. Following the transaction, the director now owns 234,398 shares in the company, valued at $22,352,193.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Eric Resch sold 34,050 shares of TE Connectivity stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $82.70, for a total transaction of $2,815,935.00. Following the completion of the transaction, the senior vice president now owns 68,790 shares in the company, valued at approximately $5,688,933. The disclosure for this sale can be found here. Insiders have sold 333,433 shares of company stock worth $31,184,704 in the last quarter. Company insiders own 0.80% of the company’s stock.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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