1,583 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Somerset Trust Co

Somerset Trust Co bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,583 shares of the electronics maker's stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SRS Capital Advisors Inc. lifted its stake in shares of 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 purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity during the 4th quarter worth approximately $44,000. Deseret Mutual Benefit Administrators purchased a new position in TE Connectivity in the 4th quarter worth approximately $57,000. Finally, R Squared Ltd acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TEL. Truist Financial decreased 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. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. UBS Group raised their target price on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company raised their price objective on TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $162.50.

TE Connectivity Stock Up 1.4%

NYSE TEL traded up $2.30 on Tuesday, hitting $162.17. 1,471,888 shares of the stock traded hands, compared to its average volume of 1,704,709. The company has a market capitalization of $48.09 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The stock has a 50-day moving average of $144.99 and a 200 day moving average of $147.18. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.97 billion. During the same period last year, the business posted $1.86 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. 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 annualized dividend and a yield of 1.75%. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

Insider Activity

In other news, EVP John S. Jenkins sold 30,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 24,625 shares in the company, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Aaron Kyle Stucki sold 5,000 shares of the firm's stock in a transaction that occurred on 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 represents a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is currently owned by company insiders.

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.