Renaissance Investment Group LLC Acquires 612 Shares of TE Connectivity Ltd. (NYSE:TEL)

Renaissance Investment Group LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,793 shares of the electronics maker’s stock after purchasing an additional 612 shares during the period. TE Connectivity comprises approximately 1.9% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 23rd biggest position. Renaissance Investment Group LLC’s holdings in TE Connectivity were worth $6,405,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Teza Capital Management LLC bought a new position in shares of TE Connectivity in the 3rd quarter valued at $691,000. Everence Capital Management Inc. lifted its stake in shares of TE Connectivity by 109.9% in the 3rd quarter. Everence Capital Management Inc. now owns 4,660 shares of the electronics maker’s stock valued at $514,000 after acquiring an additional 2,440 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of TE Connectivity by 13.6% in the 3rd quarter. Blair William & Co. IL now owns 59,498 shares of the electronics maker’s stock valued at $6,566,000 after acquiring an additional 7,146 shares during the last quarter. Arcus Capital Partners LLC lifted its stake in shares of TE Connectivity by 46.6% in the 3rd quarter. Arcus Capital Partners LLC now owns 9,743 shares of the electronics maker’s stock valued at $1,075,000 after acquiring an additional 3,099 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in shares of TE Connectivity by 5.4% in the 3rd quarter. Prospera Financial Services Inc now owns 19,626 shares of the electronics maker’s stock valued at $2,166,000 after acquiring an additional 1,006 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $123.23 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $127.45 and a two-hundred day moving average price of $122.21. TE Connectivity Ltd. has a 1-year low of $104.76 and a 1-year high of $138.24. The company has a market cap of $39.00 billion, a P/E ratio of 17.63, a PEG ratio of 2.77 and a beta of 1.32.

TE Connectivity (NYSE:TEL – Get Rating) last issued its earnings results on Wednesday, January 25th. The electronics maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.50 by $0.03. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. TE Connectivity had a return on equity of 21.25% and a net margin of 13.85%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. As a group, analysts anticipate that TE Connectivity Ltd. will post 6.56 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.36 annualized dividend and a dividend yield of 1.92%. TE Connectivity’s dividend payout ratio is presently 32.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEL. Stifel Nicolaus lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research report on Wednesday, February 15th. Wolfe Research lowered TE Connectivity from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 9th. Oppenheimer lowered TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 6th. Credit Suisse Group lowered their target price on TE Connectivity from $123.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, February 1st. Finally, JPMorgan Chase & Co. lowered their target price on TE Connectivity from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, December 20th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $136.00.

About TE Connectivity

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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.