6,723 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Freedom Investment Management Inc.

Freedom Investment Management Inc. acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,723 shares of the electronics maker’s stock, valued at approximately $961,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of TE Connectivity by 117.6% during the fourth 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 purchased a new position in shares of TE Connectivity in the fourth quarter valued at $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity during the 4th quarter valued at $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the subject of several recent analyst reports. 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, April 15th. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price objective on TE Connectivity from $169.00 to $146.00 and set a “neutral” rating on the stock in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $156.90.

TE Connectivity Stock Up 1.8 %

TEL opened at $129.23 on Friday. The stock has a market cap of $38.56 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.11 and a beta of 1.25. The stock’s 50 day moving average price is $142.92 and its 200 day moving average price is $146.36. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business earned $1.84 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.20%. TE Connectivity’s payout ratio is 45.37%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

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.