The Manufacturers Life Insurance Company increased its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 30.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,171 shares of the electronics maker’s stock after buying an additional 106,442 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in TE Connectivity were worth $37,159,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TEL. Riverview Trust Co bought a new position in shares of TE Connectivity in the fourth quarter worth $25,000. Synovus Financial Corp increased its holdings in shares of TE Connectivity by 97.2% in the first quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 175 shares during the period. First Interstate Bank bought a new position in shares of TE Connectivity in the first quarter worth $32,000. Legacy Advisors LLC bought a new position in shares of TE Connectivity in the first quarter worth $33,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of TE Connectivity by 78.3% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 535 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 235 shares during the period. 91.34% of the stock is currently owned by institutional investors and hedge funds.

NYSE:TEL traded up $0.35 during midday trading on Wednesday, hitting $91.66. The company had a trading volume of 18,011 shares, compared to its average volume of 1,521,542. TE Connectivity Ltd has a 52-week low of $69.84 and a 52-week high of $99.52. The firm has a market capitalization of $30.62 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.41.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the business earned $1.42 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that TE Connectivity Ltd will post 5.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were given a $0.46 dividend. The ex-dividend date was Thursday, May 23rd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 2.01%. TE Connectivity’s payout ratio is 32.80%.

In other TE Connectivity news, Director Thomas J. Lynch sold 42,239 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $95.11, for a total transaction of $4,017,351.29. Following the completion of the sale, the director now directly owns 208,121 shares in the company, valued at $19,794,388.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Terrence R. Curtin sold 128,750 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $94.20, for a total transaction of $12,128,250.00. Following the sale, the insider now owns 213,719 shares of the company’s stock, valued at $20,132,329.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,383 shares of company stock valued at $28,368,769. Company insiders own 0.80% of the company’s stock.

Several research firms have recently weighed in on TEL. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. HC Wainwright reaffirmed a “sell” rating on shares of TE Connectivity in a report on Friday, May 3rd. Finally, ValuEngine cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. TE Connectivity presently has an average rating of “Hold” and a consensus target price of $94.43.

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TE Connectivity Company Profile

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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