Merit Financial Group LLC increased its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 175.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,562 shares of the electronics maker's stock after purchasing an additional 2,904 shares during the period. Merit Financial Group LLC's holdings in TE Connectivity were worth $645,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. raised its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth about $44,000. Deseret Mutual Benefit Administrators bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $57,000. Finally, Loomis Sayles & Co. L P raised its position in shares of TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. HSBC raised 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. Truist Financial lowered their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Friday, April 25th. Five equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.50.
Read Our Latest Stock Report on TEL
TE Connectivity Stock Up 0.3%
Shares of TE Connectivity stock traded up $0.43 during trading on Tuesday, reaching $166.43. The stock had a trading volume of 3,741,716 shares, compared to its average volume of 1,837,301. 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 company has a market capitalization of $49.35 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.11 and a beta of 1.23. The stock has a fifty day moving average price of $147.06 and a two-hundred day moving average price of $147.68. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $167.00.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the company earned $1.86 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict 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. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is currently 62.42%.
Insider Activity
In related news, CFO Heath A. Mitts sold 37,844 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the transaction, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at approximately $6,976,974.99. This trade represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock worth $27,369,059 in the last quarter. Corporate insiders own 0.90% of the company's stock.
About TE Connectivity
(
Free Report)
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.
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