Advisory Services Network LLC Sells 82 Shares of TE Connectivity Ltd. (NYSE:TEL)

Advisory Services Network LLC cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,804 shares of the electronics maker’s stock after selling 82 shares during the period. Advisory Services Network LLC’s holdings in TE Connectivity were worth $1,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings in shares of 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 purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity in the fourth quarter worth $55,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL stock opened at $127.85 on Friday. 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 firm has a market capitalization of $38.14 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.11 and a beta of 1.25. The firm’s 50 day moving average is $144.78 and its 200-day moving average is $147.05. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. 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 firm earned $1.84 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 2.22%. TE Connectivity’s dividend payout ratio is presently 45.37%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TEL shares. The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company upped their price objective 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. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $163.60.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s 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 sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

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.