TE Connectivity Ltd. (NYSE:TEL) Position Lessened by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,849 shares of the electronics maker's stock after selling 2,112 shares during the period. Laird Norton Wetherby Wealth Management LLC's holdings in TE Connectivity were worth $6,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted 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 worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth $43,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at about $44,000. Finally, Deseret Mutual Benefit Administrators purchased a new position in TE Connectivity in the fourth quarter valued at about $57,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 1.8%

Shares of TEL traded up $2.84 during midday trading on Thursday, reaching $163.58. 2,049,465 shares of the company were exchanged, compared to its average volume of 1,695,508. 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 1-year low of $116.30 and a 1-year high of $165.00. The company has a market cap of $48.51 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.11 and a beta of 1.24. The stock has a 50-day moving average price of $141.31 and a 200-day moving average price of $146.47.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.86 earnings per share. Research analysts expect 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 issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.74%. TE Connectivity's payout ratio is currently 62.42%.

Insider Activity

In related news, EVP John S. Jenkins sold 20,400 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Friday, April 25th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company 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 on the stock in a research note on Thursday, April 24th. Citigroup cut their price objective 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. Finally, UBS Group reissued a "buy" rating and issued a $163.00 target price (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $159.50.

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.