Mediolanum International Funds Ltd Acquires Shares of 13,600 TE Connectivity Ltd. $TEL

Mediolanum International Funds Ltd bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,600 shares of the electronics maker’s stock, valued at approximately $2,702,000.

A number of other institutional investors have also recently modified their holdings of TEL. Kohmann Bosshard Financial Services LLC bought a new stake in TE Connectivity during the 4th quarter valued at about $25,000. Commonwealth Retirement Investments LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $40,000. MV Capital Management Inc. bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $41,000. JFS Wealth Advisors LLC raised its holdings in TE Connectivity by 54.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 65 shares during the last quarter. Finally, Westfuller Advisors LLC lifted its position in TE Connectivity by 120.2% in the 4th quarter. Westfuller Advisors LLC now owns 185 shares of the electronics maker’s stock valued at $42,000 after acquiring an additional 101 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 2.9%

TE Connectivity stock opened at $209.02 on Wednesday. The stock has a market cap of $61.01 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. TE Connectivity Ltd. has a one year low of $177.21 and a one year high of $252.56. The stock has a fifty day moving average of $205.72 and a 200 day moving average of $215.53.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.03. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the firm posted $2.10 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 11.31 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 21st. TE Connectivity’s payout ratio is 31.87%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TEL. Truist Financial decreased their price target on TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Zacks Research cut TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Jefferies Financial Group upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Barclays raised their price target on shares of TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, Citigroup reduced their price target on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.31.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at $5,584,840. This trade represents a 26.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.