Focus Partners Advisor Solutions LLC Takes $1.05 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Focus Partners Advisor Solutions LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,375 shares of the electronics maker's stock, valued at approximately $1,054,000.

Other hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity in the 4th quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $44,000. Deseret Mutual Benefit Administrators bought a new stake in shares of TE Connectivity during the fourth quarter worth approximately $57,000. Finally, Webster Bank N. A. acquired a new position in TE Connectivity in the fourth quarter valued at approximately $61,000. 91.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated 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 sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04% 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, EVP John S. Jenkins sold 30,000 shares of the business'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 sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. This represents a 54.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,675 shares of company stock valued at $27,062,559. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup lowered their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company increased their target price on TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a report on Friday, April 25th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research report on Thursday, April 24th. Finally, Truist Financial reduced their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $160.30.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded down $0.09 during trading on Wednesday, hitting $161.28. 271,011 shares of the stock were exchanged, compared to its average volume of 1,696,504. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $144.06 and a 200-day moving average price of $147.01. The stock has a market capitalization of $47.83 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The business'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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

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.