Cary Street Partners Financial LLC Invests $5.60 Million in TE Connectivity Ltd. (NYSE:TEL)

Cary Street Partners Financial LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,131 shares of the electronics maker's stock, valued at approximately $5,595,000.

A number of other institutional investors have also modified their holdings of TEL. Modera Wealth Management LLC raised 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 worth $409,000 after purchasing an additional 78 shares during the period. King Luther Capital Management Corp raised its stake in 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 valued at $2,002,000 after purchasing an additional 83 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock worth $1,231,000 after purchasing an additional 85 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of TE Connectivity by 6.0% in the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock valued at $240,000 after buying an additional 95 shares during the last quarter. Finally, Callan Capital LLC boosted its position in TE Connectivity by 5.4% during the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker's stock worth $296,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Activity

In other news, EVP John S. Jenkins sold 30,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $3,678,728.75. This represents a 54.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction 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 completion of the transaction, the insider now owns 25,976 shares of the company's stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a report on Friday, April 25th. Four investment 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $159.50.

TE Connectivity Price Performance

TEL stock traded up $0.73 on Friday, reaching $152.85. 2,077,251 shares of the company's stock were exchanged, compared to its average volume of 1,688,695. The stock has a fifty day moving average of $140.60 and a 200-day moving average of $146.18. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market cap of $45.33 billion, a PE ratio of 24.42, a P/E/G ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results 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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.86%. 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%.

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.