Wellington Management Group LLP Purchases Shares of 6,362,160 TE Connectivity Ltd. (NYSE:TEL)

Wellington Management Group LLP purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,362,160 shares of the electronics maker’s stock, valued at approximately $909,598,000. Wellington Management Group LLP owned 2.13% of TE Connectivity as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Modera Wealth Management LLC lifted its stake in TE Connectivity by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after purchasing an additional 78 shares during the last quarter. King Luther Capital Management Corp lifted its position in shares of TE Connectivity by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after acquiring an additional 83 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in shares of TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after acquiring an additional 85 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after acquiring an additional 95 shares during the last quarter. Finally, Callan Capital LLC raised its position in shares of TE Connectivity by 5.4% during the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $141.36 on Tuesday. The stock has a market capitalization of $42.18 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.11 and a beta of 1.32. The business has a 50-day moving average of $149.23 and a two-hundred day moving average of $148.42. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $1.84 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of analyst reports. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Robert W. Baird boosted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus price target of $167.00.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

TE Connectivity Company 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.