Beverly Hills Private Wealth LLC Increases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Beverly Hills Private Wealth LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 61.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,103 shares of the electronics maker's stock after purchasing an additional 4,214 shares during the period. Beverly Hills Private Wealth LLC's holdings in TE Connectivity were worth $1,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TEL. Tidal Investments LLC boosted its position in shares of TE Connectivity by 24.5% in the third quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker's stock worth $3,341,000 after buying an additional 4,359 shares during the period. Franklin Resources Inc. boosted its position in TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after acquiring an additional 712,228 shares during the period. GAMMA Investing LLC grew its stake in TE Connectivity by 25.3% during the 4th quarter. GAMMA Investing LLC now owns 3,193 shares of the electronics maker's stock valued at $457,000 after acquiring an additional 644 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of TE Connectivity in the 4th quarter valued at about $149,211,000. Finally, Farmers Trust Co. purchased a new stake in shares of TE Connectivity in the fourth quarter worth approximately $361,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective 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 target price on the stock in a research report on Friday, April 25th. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial lowered their price target on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of "Moderate Buy" and an average price target of $159.50.

TE Connectivity Price Performance

Shares of NYSE TEL traded down $1.20 during midday trading on Tuesday, reaching $148.65. The company's stock had a trading volume of 1,348,018 shares, compared to its average volume of 1,681,577. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market cap of $44.08 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.11 and a beta of 1.23. The business's 50 day moving average price is $140.56 and its two-hundred day moving average price is $146.08. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its 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. The company 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 for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 EPS. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio is presently 62.42%.

Insider Activity at TE Connectivity

In other 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 value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John S. Jenkins sold 30,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at approximately $3,678,728.75. The trade was a 54.92 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.