Silvercrest Asset Management Group LLC Purchases 75 Shares of TE Connectivity Ltd. (NYSE:TEL)

Silvercrest Asset Management Group LLC boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,732 shares of the electronics maker’s stock after acquiring an additional 75 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in TE Connectivity were worth $534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEL. Assenagon Asset Management S.A. raised its holdings in TE Connectivity by 0.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,368 shares of the electronics maker’s stock valued at $3,484,000 after buying an additional 157 shares during the last quarter. Park Avenue Securities LLC purchased a new position in TE Connectivity during the 4th quarter valued at $1,023,000. Merit Financial Group LLC purchased a new position in TE Connectivity during the 4th quarter valued at $237,000. UMB Bank n.a. purchased a new position in TE Connectivity during the 4th quarter valued at $148,000. Finally, Ballentine Partners LLC increased its position in TE Connectivity by 2.6% during the 4th quarter. Ballentine Partners LLC now owns 4,907 shares of the electronics maker’s stock valued at $702,000 after purchasing an additional 125 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Down 0.1%

NYSE:TEL opened at $162.69 on Wednesday. The firm’s 50-day moving average price is $142.84 and its 200-day moving average price is $146.80. The company has a market capitalization of $48.25 billion, a PE ratio of 25.99, a P/E/G ratio of 2.11 and a beta of 1.24. 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 Ltd. has a 1-year low of $116.30 and a 1-year high of $164.11.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the firm earned $1.86 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.75%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is 62.42%.

Analyst Ratings Changes

A number of brokerages have issued reports on TEL. Citigroup reduced their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group reissued a “buy” rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced 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, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.30.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the sale, the senior vice president now directly owns 5,927 shares in the company, valued at $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,675 shares of company stock valued at $27,062,559. 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.