Sandy Spring Bank Raises Holdings in TE Connectivity Ltd. (NYSE:TEL)

Sandy Spring Bank grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 55.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,007 shares of the electronics maker’s stock after buying an additional 359 shares during the quarter. Sandy Spring Bank’s holdings in TE Connectivity were worth $144,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Meyer Handelman Co. grew its holdings in shares of TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of TE Connectivity during the fourth quarter worth about $2,920,000. Finally, abrdn plc purchased a new position in shares of TE Connectivity during the fourth quarter worth about $15,739,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.1 %

Shares of TE Connectivity stock opened at $146.10 on Friday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.59 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a 50-day moving average of $148.91 and a two-hundred day moving average of $148.33.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS 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 issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TEL has been the subject of several recent research reports. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Finally, Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has an average rating of “Hold” and an average price target of $167.00.

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.