Sagespring Wealth Partners LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Sagespring Wealth Partners LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,560 shares of the electronics maker’s stock, valued at approximately $366,000.

A number of other institutional investors have also made changes to their positions in TEL. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its stake in 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 buying an additional 107 shares during the period. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity in the fourth quarter valued at about $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity in the fourth quarter worth about $55,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Down 0.4 %

TE Connectivity stock opened at $129.40 on Wednesday. The stock has a 50-day simple moving average of $144.12 and a 200 day simple moving average of $146.77. The stock has a market capitalization of $38.61 billion, a P/E ratio of 20.67, a PEG ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is an increase 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 dividend yield of 2.19%. TE Connectivity’s payout ratio is presently 45.37%.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of TE Connectivity from $188.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Citigroup reduced their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $159.20.

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.