Insigneo Advisory Services LLC Purchases 559 Shares of TE Connectivity Ltd. (NYSE:TEL)

Insigneo Advisory Services LLC grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,089 shares of the electronics maker’s stock after purchasing an additional 559 shares during the period. Insigneo Advisory Services LLC’s holdings in TE Connectivity were worth $728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in TE Connectivity in the fourth quarter worth approximately $2,920,000. Meyer Handelman Co. grew its holdings in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after purchasing an additional 9,175 shares during the last quarter. abrdn plc purchased a new position in TE Connectivity in the 4th quarter worth $15,739,000. Truist Financial Corp lifted its stake in TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after purchasing an additional 31,991 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its position in TE Connectivity by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock valued at $17,019,000 after buying an additional 4,913 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of TEL stock opened at $127.09 on Thursday. The business’s fifty day moving average is $143.72 and its 200 day moving average is $146.63. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.92 billion. During the same period last year, the business earned $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 2.23%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is presently 45.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lowered their target price on TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group decreased their price objective on shares of TE Connectivity from $188.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $159.20.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated 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 completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

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.