Bessemer Group Inc. Has $92.46 Million Stock Position in TE Connectivity Ltd. $TEL

Bessemer Group Inc. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 22.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,199 shares of the electronics maker’s stock after acquiring an additional 98,918 shares during the quarter. Bessemer Group Inc. owned approximately 0.19% of TE Connectivity worth $92,464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of TE Connectivity by 54.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,605,782 shares of the electronics maker’s stock worth $269,723,000 after acquiring an additional 565,857 shares in the last quarter. Foresight Group Ltd Liability Partnership acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $31,983,000. Syntegra Private Wealth Group LLC acquired a new position in shares of TE Connectivity in the 2nd quarter worth approximately $215,000. Ascent Group LLC acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $364,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in TE Connectivity by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker’s stock worth $2,479,000 after buying an additional 192 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $236.82 on Tuesday. The firm has a fifty day moving average of $215.78 and a two-hundred day moving average of $184.78. The stock has a market capitalization of $69.98 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 2.54 and a beta of 1.26. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $238.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $0.71 per share. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity’s payout ratio is presently 58.80%.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total value of $4,841,311.50. Following the completion of the sale, the insider owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TEL shares. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $186.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TE Connectivity in a report on Wednesday, October 8th. Evercore ISI upped their price objective on TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Wall Street Zen downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 31st. Finally, Wells Fargo & Company upped their price objective on TE Connectivity from $198.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

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.