MassMutual Private Wealth & Trust FSB Acquires 3,078 Shares of TE Connectivity Ltd. (NYSE:TEL)

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,387 shares of the electronics maker's stock after buying an additional 3,078 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in TE Connectivity were worth $5,990,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. grew its position 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 buying an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new stake in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity during the fourth quarter worth about $44,000. Deseret Mutual Benefit Administrators bought a new position in TE Connectivity during the fourth quarter worth about $57,000. Finally, R Squared Ltd bought a new position in TE Connectivity during the fourth quarter worth about $64,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In other news, CFO Heath A. Mitts sold 37,844 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at $6,976,974.99. The trade was a 45.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 5,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $800,000.00. Following the completion of the sale, the insider now owns 23,646 shares in the company, valued at approximately $3,783,360. This trade represents a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TEL has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. UBS Group raised their price target on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday. Citigroup cut 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. Finally, Truist Financial cut their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Five 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $162.50.

TE Connectivity Trading Down 1.0%

Shares of TE Connectivity stock traded down $1.56 on Friday, hitting $159.99. 2,444,724 shares of the company's stock traded hands, compared to its average volume of 1,706,718. The firm's 50-day moving average price is $144.78 and its two-hundred day moving average price is $147.20. The stock has a market capitalization of $47.44 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $164.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the previous year, the company posted $1.86 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.78%. TE Connectivity's payout ratio 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.