Generali Asset Management SPA SGR Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Generali Asset Management SPA SGR bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 44,054 shares of the electronics maker’s stock, valued at approximately $6,298,000.

A number of other hedge funds have also recently modified their holdings of TEL. Victory Capital Management Inc. raised its holdings in TE Connectivity by 0.8% during the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock worth $22,167,000 after purchasing an additional 1,154 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in TE Connectivity by 36.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,476 shares of the electronics maker’s stock valued at $1,129,000 after buying an additional 1,999 shares during the last quarter. Natixis Advisors LLC grew its position in TE Connectivity by 6.1% in the 3rd quarter. Natixis Advisors LLC now owns 152,718 shares of the electronics maker’s stock valued at $23,059,000 after buying an additional 8,737 shares during the last quarter. Meeder Advisory Services Inc. grew its position in TE Connectivity by 3.2% in the 3rd quarter. Meeder Advisory Services Inc. now owns 9,434 shares of the electronics maker’s stock valued at $1,424,000 after buying an additional 291 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in TE Connectivity by 39.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,389 shares of the electronics maker’s stock valued at $663,000 after buying an additional 1,233 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

TEL has been the subject of several research reports. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Performance

TEL stock opened at $146.80 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $43.80 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The stock’s 50 day simple moving average is $148.67 and its 200 day simple moving average is $148.40.

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

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

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.