Alta Advisers Ltd Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Alta Advisers Ltd purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,488 shares of the electronics maker's stock, valued at approximately $210,000.

Other institutional investors also recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the 4th quarter valued at $43,000. Global X Japan Co. Ltd. bought a new stake in shares of TE Connectivity in the 1st quarter worth $47,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of TE Connectivity by 650.8% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after buying an additional 423 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in TE Connectivity by 32.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after buying an additional 123 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" 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. Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Truist Financial decreased their price target 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 analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.90.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president owned 5,927 shares in the company, valued at $948,320. The trade was a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,775 shares of company stock valued at $29,596,059. Insiders own 0.90% of the company's stock.

TE Connectivity Stock Performance

TE Connectivity stock traded up $0.88 during mid-day trading on Friday, reaching $174.29. The company had a trading volume of 584,980 shares, compared to its average volume of 1,714,361. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $51.69 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 2.27 and a beta of 1.23. The company has a 50 day moving average of $160.53 and a 200-day moving average of $149.64. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $175.03.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.63%. TE Connectivity's dividend payout ratio (DPR) 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.