Bank of Montreal Can Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Bank of Montreal Can bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 413,143 shares of the electronics maker’s stock, valued at approximately $59,067,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Cerity Partners LLC increased its stake in TE Connectivity by 11.0% in the 4th quarter. Cerity Partners LLC now owns 39,097 shares of the electronics maker’s stock worth $5,719,000 after acquiring an additional 3,874 shares during the last quarter. FMR LLC increased its stake in TE Connectivity by 2.7% in the 4th quarter. FMR LLC now owns 1,213,446 shares of the electronics maker’s stock worth $173,486,000 after acquiring an additional 32,164 shares during the last quarter. Polymer Capital Management HK LTD bought a new position in TE Connectivity in the 4th quarter worth about $944,000. Federated Hermes Inc. increased its stake in TE Connectivity by 863.4% in the 4th quarter. Federated Hermes Inc. now owns 1,185 shares of the electronics maker’s stock worth $169,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of TE Connectivity by 5.6% in the 4th quarter. Peapack Gladstone Financial Corp now owns 122,671 shares of the electronics maker’s stock worth $17,538,000 after purchasing an additional 6,497 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TEL shares. Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Citigroup upped 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. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Finally, Bank of America increased their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.56.

TE Connectivity Trading Up 9.5 %

NYSE TEL opened at $133.96 on Thursday. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a 50 day simple moving average of $145.47 and a two-hundred day simple moving average of $147.33. The stock has a market cap of $39.97 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data 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 business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business posted $1.84 EPS. The business’s revenue was up .1% on a year-over-year basis. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.12%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

TE Connectivity 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.