Focus Partners Wealth Buys 2,028 Shares of TE Connectivity Ltd. (NYSE:TEL)

Focus Partners Wealth raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 46,676 shares of the electronics maker’s stock after purchasing an additional 2,028 shares during the quarter. Focus Partners Wealth’s holdings in TE Connectivity were worth $6,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Modera Wealth Management LLC increased its holdings in TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 78 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after buying an additional 83 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in shares of TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after buying an additional 85 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after buying an additional 95 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of TE Connectivity by 5.4% in the 4th quarter. EP Wealth Advisors LLC now owns 1,939 shares of the electronics maker’s stock worth $277,000 after buying an additional 99 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Up 0.9%

Shares of TEL opened at $162.47 on Wednesday. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $163.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market capitalization of $48.18 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 2.11 and a beta of 1.24. The company has a 50-day moving average of $141.11 and a 200 day moving average of $146.37.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 62.42%.

Analyst Ratings Changes

A number of brokerages have commented on TEL. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Truist Financial dropped their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company lifted their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John S. Jenkins sold 30,000 shares of the business’s 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 transaction, the executive vice president now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,275 shares of company stock worth $23,740,419. 0.90% of the stock is currently owned by corporate insiders.

About TE Connectivity

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.