Wealth Enhancement Advisory Services LLC Grows Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,014 shares of the electronics maker's stock after purchasing an additional 2,498 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in TE Connectivity were worth $5,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NorthCrest Asset Manangement LLC increased its position in shares of TE Connectivity by 4.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 29,671 shares of the electronics maker's stock worth $4,242,000 after purchasing an additional 1,237 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in TE Connectivity in the 4th quarter valued at about $14,658,000. Siemens Fonds Invest GmbH acquired a new position in TE Connectivity in the 4th quarter valued at about $602,000. Azzad Asset Management Inc. ADV grew its position in TE Connectivity by 2.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,891 shares of the electronics maker's stock valued at $2,701,000 after acquiring an additional 469 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its position in TE Connectivity by 2,334.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 32,500 shares of the electronics maker's stock valued at $4,647,000 after acquiring an additional 31,165 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 1.5%

TEL stock traded up $2.39 during trading on Friday, hitting $164.71. 1,149,137 shares of the company's stock were exchanged, compared to its average volume of 1,707,071. The business has a 50-day moving average price of $146.59 and a two-hundred day moving average price of $147.61. The stock has a market capitalization of $48.84 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $165.12. 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 (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.72%. TE Connectivity's payout ratio is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 5,000 shares of the business'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 of the company's stock, valued at approximately $3,783,360. This represents a 17.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,675 shares of company stock worth $27,369,059. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TEL. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Citigroup dropped their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Truist Financial dropped their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. 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 report on Friday, April 25th. Finally, HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.50.

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.