Carnegie Capital Asset Management LLC Purchases 7,027 Shares of TE Connectivity Ltd. (NYSE:TEL)

Carnegie Capital Asset Management LLC increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,506 shares of the electronics maker's stock after purchasing an additional 7,027 shares during the quarter. Carnegie Capital Asset Management LLC's holdings in TE Connectivity were worth $15,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at $30,000. Jones Financial Companies Lllp grew its position in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock valued at $30,000 after acquiring an additional 190 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter valued at about $35,000. Money Concepts Capital Corp grew its position in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker's stock valued at $37,000 after acquiring an additional 162 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker's stock valued at $46,000 after acquiring an additional 210 shares during the period. Institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Down 2.5 %

NYSE:TEL traded down $3.73 during trading hours on Friday, reaching $142.98. 1,946,581 shares of the company were exchanged, compared to its average volume of 1,855,798. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.04 and a beta of 1.39. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The stock has a 50 day simple moving average of $142.73 and a 200 day simple moving average of $135.06.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity's revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. TE Connectivity's payout ratio is 22.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEL. Truist Financial lifted their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $169.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday. The Goldman Sachs Group reissued a "buy" rating on shares of TE Connectivity in a research note on Monday, April 1st. StockNews.com started coverage on shares of TE Connectivity in a research note on Sunday. They issued a "buy" rating on the stock. Finally, Stifel Nicolaus raised their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $153.30.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.86% of the company's stock.

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.