Procyon Advisors LLC Has $2.50 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Procyon Advisors LLC increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1,001.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,671 shares of the electronics maker's stock after acquiring an additional 16,066 shares during the period. Procyon Advisors LLC's holdings in TE Connectivity were worth $2,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEL. SRS Capital Advisors Inc. increased its stake 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 during the period. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $44,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $57,000. Finally, Loomis Sayles & Co. L P increased its stake 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 during the period. Institutional investors own 91.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on TEL shares. Wells Fargo & Company raised their target price on shares of TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research note on Thursday, April 24th. UBS Group raised their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. 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, The Goldman Sachs Group lowered their target price 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.50.

TE Connectivity Trading Up 1.5%

TEL traded up $2.39 during trading on Friday, reaching $164.71. The company had a trading volume of 1,149,137 shares, compared to its average volume of 1,707,071. The firm's 50-day simple moving average is $146.59 and its 200 day simple moving average is $147.61. The company has a market cap of $48.84 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.11 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $165.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company posted $1.86 EPS. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 yield of 1.72%. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Insiders Place Their Bets

In other news, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $4,010,181.25. The trade was a 45.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,675 shares of company stock worth $27,369,059. 0.90% of the stock is currently owned by company insiders.

TE Connectivity 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.