Avantax Advisory Services Inc. Raises Position in TE Connectivity Ltd. (NYSE:TEL)

Avantax Advisory Services Inc. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 12.6% during the 4th quarter, Holdings Channel reports. The fund owned 10,567 shares of the electronics maker’s stock after buying an additional 1,183 shares during the quarter. Avantax Advisory Services Inc.’s holdings in TE Connectivity were worth $1,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Securian Asset Management Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter valued at about $2,286,000. Great Lakes Advisors LLC boosted its holdings in shares of TE Connectivity by 19.1% in the fourth quarter. Great Lakes Advisors LLC now owns 2,486 shares of the electronics maker’s stock valued at $355,000 after acquiring an additional 399 shares in the last quarter. Truvestments Capital LLC boosted its holdings in shares of TE Connectivity by 15.5% in the fourth quarter. Truvestments Capital LLC now owns 1,112 shares of the electronics maker’s stock valued at $159,000 after acquiring an additional 149 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of TE Connectivity by 31.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 941 shares of the electronics maker’s stock valued at $134,000 after acquiring an additional 226 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at about $1,047,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s 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 completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL opened at $146.80 on Wednesday. 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 stock has a market cap of $43.80 billion, a P/E ratio of 23.45, a PEG ratio of 2.11 and a beta of 1.32. The company has a 50-day moving average of $148.67 and a two-hundred day moving average of $148.40. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data 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 business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 earnings per share. As a group, research 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. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TEL. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. 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 report on Thursday, January 23rd. Finally, Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $167.00.

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.