CIBC Private Wealth Group LLC Acquires 1,014,133 Shares of TE Connectivity Ltd. (NYSE:TEL)

CIBC Private Wealth Group LLC boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 7,374.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,027,885 shares of the electronics maker’s stock after purchasing an additional 1,014,133 shares during the period. CIBC Private Wealth Group LLC owned about 0.31% of TE Connectivity worth $132,710,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the first quarter valued at approximately $25,000. Childress Capital Advisors LLC acquired a new position in TE Connectivity during the 4th quarter valued at approximately $27,000. Jackson Grant Investment Advisers Inc. acquired a new position in TE Connectivity during the 4th quarter valued at approximately $30,000. Wealthcare Advisory Partners LLC acquired a new position in TE Connectivity during the 1st quarter valued at approximately $32,000. Finally, Lloyd Advisory Services LLC. acquired a new position in TE Connectivity during the 1st quarter valued at approximately $34,000. 89.75% of the stock is owned by institutional investors.

Shares of NYSE:TEL traded up $0.36 during midday trading on Friday, hitting $137.30. The company’s stock had a trading volume of 12,326 shares, compared to its average volume of 1,755,957. TE Connectivity Ltd. has a 12-month low of $75.70 and a 12-month high of $139.58. The stock has a market cap of $45.34 billion, a P/E ratio of 42.53, a P/E/G ratio of 2.11 and a beta of 1.36. The business’s 50 day moving average is $133.98. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.47.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Tuesday, April 20th. The electronics maker reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.09. TE Connectivity had a net margin of 8.23% and a return on equity of 16.76%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period last year, the business earned $1.29 earnings per share. TE Connectivity’s revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity Ltd. will post 6.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 4th. Shareholders of record on Friday, February 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, February 17th. TE Connectivity’s dividend payout ratio is presently 46.95%.

A number of research analysts have issued reports on the stock. Loop Capital upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 23rd. Truist Securities increased their price objective on shares of TE Connectivity from $131.00 to $139.00 and gave the stock a “hold” rating in a research note on Thursday, April 22nd. Oppenheimer increased their price objective on shares of TE Connectivity from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, April 22nd. Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research note on Monday, April 19th. Finally, Royal Bank of Canada raised their price target on shares of TE Connectivity from $149.00 to $158.00 and gave the company an “outperform” rating in a research report on Thursday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $216.40.

In related news, EVP John S. Jenkins sold 9,140 shares of TE Connectivity stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $135.65, for a total value of $1,239,841.00. Following the completion of the transaction, the executive vice president now owns 24,710 shares in the company, valued at $3,351,911.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Resch sold 23,900 shares of TE Connectivity stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $136.00, for a total transaction of $3,250,400.00. Following the completion of the transaction, the senior vice president now owns 49,963 shares of the company’s stock, valued at approximately $6,794,968. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

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 AsiaƂ-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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