Kiwi Wealth Investments Limited Partnership Acquires Shares of 61,247 TE Connectivity Ltd (TEL)

Kiwi Wealth Investments Limited Partnership acquired a new stake in TE Connectivity Ltd (NYSE:TEL) during the first quarter, according to its most recent filing with the SEC. The firm acquired 61,247 shares of the electronics maker’s stock, valued at approximately $6,119,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in TE Connectivity by 10.6% in the first quarter. BlackRock Inc. now owns 19,275,556 shares of the electronics maker’s stock valued at $1,925,628,000 after acquiring an additional 1,850,482 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in TE Connectivity by 139.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,681,710 shares of the electronics maker’s stock valued at $267,904,000 after acquiring an additional 1,563,964 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in TE Connectivity by 279.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,647,497 shares of the electronics maker’s stock valued at $156,578,000 after acquiring an additional 1,213,860 shares during the period. Columbus Circle Investors acquired a new stake in TE Connectivity in the first quarter valued at $43,743,000. Finally, Point72 Asset Management L.P. lifted its holdings in TE Connectivity by 299.3% in the first quarter. Point72 Asset Management L.P. now owns 538,028 shares of the electronics maker’s stock valued at $53,749,000 after acquiring an additional 403,292 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

In other news, SVP Tim Murphy sold 17,100 shares of TE Connectivity stock in a transaction on Monday, May 21st. The stock was sold at an average price of $96.20, for a total transaction of $1,645,020.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

A number of research firms have commented on TEL. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a report on Wednesday, June 6th. ValuEngine downgraded TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Morgan Stanley raised their target price on TE Connectivity from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, April 26th. Oppenheimer began coverage on TE Connectivity in a report on Monday, March 26th. They issued an “outperform” rating and a $120.00 target price for the company. Finally, Robert W. Baird reissued a “buy” rating and issued a $123.00 target price on shares of TE Connectivity in a report on Tuesday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. TE Connectivity presently has a consensus rating of “Buy” and a consensus price target of $113.64.

TE Connectivity opened at $98.30 on Thursday, MarketBeat Ratings reports. The firm has a market cap of $34.03 billion, a PE ratio of 20.39, a PEG ratio of 1.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.43 and a quick ratio of 0.94. TE Connectivity Ltd has a 52-week low of $77.15 and a 52-week high of $108.23.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 25th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.61 billion. TE Connectivity had a return on equity of 19.89% and a net margin of 9.39%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. analysts expect that TE Connectivity Ltd will post 5.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.79%. 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 payout ratio is 36.44%.

About TE Connectivity

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.

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

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