Patron Partners LLC Makes New $224,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

Patron Partners LLC bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,588 shares of the electronics maker's stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. lifted its holdings in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at about $43,000. Global X Japan Co. Ltd. purchased a new stake in shares of TE Connectivity in the first quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of TE Connectivity by 650.8% in the first 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 in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of TE Connectivity by 32.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after purchasing an additional 123 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Heath A. Mitts sold 37,844 shares of the 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 sale, the chief financial officer now owns 45,503 shares of the company's stock, valued at $6,976,974.99. This represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. The trade was a 54.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,775 shares of company stock valued at $29,596,059. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a 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 report on Thursday, April 24th. UBS Group upped their price target on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Truist Financial reduced their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have issued 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 an average target price of $162.50.

TE Connectivity Stock Performance

Shares of TEL stock opened at $166.85 on Friday. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $170.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The company has a 50 day moving average price of $157.63 and a 200 day moving average price of $149.05. The firm has a market capitalization of $49.48 billion, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.

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

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

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.

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.