EverSource Wealth Advisors LLC Buys 226 Shares of TE Connectivity Ltd. (NYSE:TEL)

EverSource Wealth Advisors LLC lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 941 shares of the electronics maker’s stock after acquiring an additional 226 shares during the period. EverSource Wealth Advisors LLC’s holdings in TE Connectivity were worth $134,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its stake in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after acquiring an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA grew its position in TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares in the last quarter. Meyer Handelman Co. increased its stake in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in TE Connectivity during the 4th quarter worth about $2,920,000. Finally, abrdn plc acquired a new position in shares of TE Connectivity during the 4th quarter worth about $15,739,000. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Trading Up 0.7 %

Shares of NYSE:TEL opened at $146.88 on Tuesday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The business has a 50 day moving average of $148.60 and a 200-day moving average of $148.45. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.82 billion, a PE ratio of 23.46, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued 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 return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.93%. TE Connectivity’s payout ratio is 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

About TE Connectivity

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.