18,860 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,860 shares of the electronics maker's stock, valued at approximately $2,665,000.

A number of other institutional investors also recently bought and sold shares of the business. 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 valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new position in TE Connectivity in the fourth quarter valued at $43,000. Global X Japan Co. Ltd. purchased a new position in shares of TE Connectivity during the first quarter worth about $47,000. Bartlett & CO. Wealth Management LLC increased its position in shares of TE Connectivity by 650.8% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after purchasing an additional 423 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of TE Connectivity by 32.6% during the fourth 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. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE:TEL 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 1,714,361. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $175.03. The business has a 50 day simple moving average of $160.53 and a 200 day simple moving average of $149.64. The firm has a market capitalization 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 debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51.

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 analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business posted $1.86 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Insiders Place Their Bets

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 transaction, the insider owned 25,976 shares in the company, valued at $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 the SEC website. Also, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the transaction, the chief financial officer directly owned 45,503 shares of the company's stock, valued at $7,244,532.63. This trade represents a 53.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,775 shares of company stock worth $29,596,059. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TEL shares. 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 note on Thursday, April 24th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen cut shares of TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Citigroup decreased their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $163.90.

About TE Connectivity

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.