Baker Tilly Wealth Management LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Baker Tilly Wealth Management LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,468 shares of the electronics maker's stock, valued at approximately $349,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. lifted its holdings in 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 period. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the fourth quarter worth about $44,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity in the 4th quarter worth approximately $57,000. Finally, Loomis Sayles & Co. L P increased its position in TE Connectivity by 32.6% during the 4th 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 currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Heath A. Mitts sold 37,844 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at $6,976,974.99. This represents a 45.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value 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 $3,678,728.75. This trade represents a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,369,059 over the last quarter. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Trading Up 0.2%

NYSE:TEL traded up $0.34 during midday trading on Wednesday, hitting $162.27. 1,187,854 shares of the company traded hands, compared to its average volume of 1,703,064. 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 firm's fifty day moving average is $145.29 and its 200-day moving average is $147.29. The firm has a market capitalization of $48.12 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11.

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, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates 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 was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.86 EPS. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current 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 given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Friday, April 25th. UBS Group raised their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upped their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Truist Financial reduced 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. Finally, Robert W. Baird raised their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.50.

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.