Alta Advisers Ltd Purchases Shares of 1,488 TE Connectivity Ltd. (NYSE:TEL)

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

Several other institutional investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its position in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new stake in TE Connectivity in the fourth quarter worth $43,000. Global X Japan Co. Ltd. bought a new stake in TE Connectivity in the first quarter valued at $47,000. Bartlett & CO. Wealth Management LLC increased its position in TE Connectivity by 650.8% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after purchasing an additional 423 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock worth $71,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Activity

In other news, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president directly 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 sale 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 shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president directly owned 24,625 shares of the company's stock, valued at $3,678,728.75. The trade was a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,775 shares of company stock valued at $29,596,059. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Stock Up 0.5%

TE Connectivity stock traded up $0.88 during mid-day trading on Friday, reaching $174.29. The stock had a trading volume of 584,980 shares, compared to its average volume of 1,715,188. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $175.03. The company has a 50-day moving average price of $161.13 and a two-hundred day moving average price of $149.86. The company has a market capitalization of $51.69 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08.

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

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEL. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $156.00 to $170.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Truist Financial dropped their price target on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, UBS Group upped their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $163.90.

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.