J. Safra Sarasin Holding AG Buys 8,728 Shares of TE Connectivity Ltd. (NYSE:TEL)

J. Safra Sarasin Holding AG grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 128.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,524 shares of the electronics maker’s stock after purchasing an additional 8,728 shares during the period. J. Safra Sarasin Holding AG’s holdings in TE Connectivity were worth $2,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Modera Wealth Management LLC increased its stake in shares of TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after acquiring an additional 78 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of TE Connectivity by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after purchasing an additional 83 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of TE Connectivity by 1.0% during the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after purchasing an additional 85 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after purchasing an additional 95 shares in the last quarter. Finally, Callan Capital LLC grew its stake in shares of TE Connectivity by 5.4% in the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEL shares. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $156.90.

TE Connectivity Price Performance

Shares of TEL opened at $133.76 on Wednesday. The firm has a market cap of $39.91 billion, a PE ratio of 21.37, a P/E/G ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98. 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 fifty day simple moving average of $142.18 and a two-hundred day simple moving average of $146.17.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 45.37%.

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.