SYM FINANCIAL Corp Takes Position in TE Connectivity Ltd. $TEL

SYM FINANCIAL Corp bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,331 shares of the electronics maker’s stock, valued at approximately $225,000.

Other hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new position in shares of TE Connectivity in the 2nd quarter valued at $26,000. Costello Asset Management INC purchased a new position in shares of TE Connectivity in the 1st quarter valued at $28,000. Salomon & Ludwin LLC increased its stake in TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock worth $31,000 after buying an additional 66 shares during the period. Millstone Evans Group LLC acquired a new position in TE Connectivity in the 1st quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new position in TE Connectivity in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TEL. KGI Securities upgraded shares of TE Connectivity to a “hold” rating in a report on Thursday, July 24th. Truist Financial boosted their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $198.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Wall Street Zen lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 31st. Finally, Robert W. Baird boosted their price objective on shares of TE Connectivity from $222.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $237.06 on Wednesday. The firm has a market cap of $70.05 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 2.55 and a beta of 1.26. The firm’s 50-day simple moving average is $216.47 and its 200-day simple moving average is $185.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $239.75.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a yield of 1.2%. TE Connectivity’s dividend payout ratio is 58.80%.

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.