Cetera Investment Advisers Purchases 158 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cetera Investment Advisers increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.3% during the fourth quarter, HoldingsChannel reports. The fund owned 46,774 shares of the electronics maker’s stock after buying an additional 158 shares during the quarter. Cetera Investment Advisers’ holdings in TE Connectivity were worth $6,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meyer Handelman Co. grew its position in TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after acquiring an additional 9,175 shares during the last quarter. abrdn plc acquired a new position in shares of TE Connectivity during the fourth quarter worth $15,739,000. Truist Financial Corp lifted its holdings in shares of TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after purchasing an additional 31,991 shares during the period. Carnegie Investment Counsel lifted its holdings in shares of TE Connectivity by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after purchasing an additional 4,913 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $237,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 5.4%

Shares of NYSE TEL opened at $161.06 on Tuesday. The stock has a market capitalization of $47.76 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a 50-day moving average price of $140.80 and a 200-day moving average price of $146.26. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $161.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.76%. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Truist Financial dropped their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group reiterated a “buy” rating and issued a $163.00 target price (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

Insider Buying and Selling at TE Connectivity

In related news, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at approximately $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Heath A. Mitts sold 37,844 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $6,976,974.99. The trade was a 45.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,844 shares of company stock worth $13,953,571. Corporate insiders own 0.90% of the company’s stock.

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.