Security National Bank of Sioux City Iowa IA Buys Shares of 14,017 TE Connectivity Ltd. (NYSE:TEL)

Security National Bank of Sioux City Iowa IA acquired a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,017 shares of the electronics maker’s stock, valued at approximately $2,004,000. TE Connectivity comprises about 1.4% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 23rd largest holding.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in shares of TE Connectivity during the fourth quarter worth about $909,598,000. Vanguard Group Inc. boosted its stake in TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares in the last quarter. Norges Bank purchased a new stake in TE Connectivity during the 4th quarter worth approximately $508,199,000. Clearbridge Investments LLC increased its stake in TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after purchasing an additional 1,702,825 shares in the last quarter. Finally, Amundi purchased a new position in shares of TE Connectivity in the fourth quarter worth $159,992,000. Institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TEL. Robert W. Baird upped their target price on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Vertical Research upgraded shares of 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. Finally, Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.50.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 represents a 49.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $163.58 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock has a market capitalization of $48.51 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.11 and a beta of 1.24. The firm’s 50 day simple moving average is $141.62 and its 200-day simple moving average is $146.56. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $163.61.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.86 earnings per share. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. TE Connectivity’s dividend payout ratio is presently 62.42%.

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.