Cerity Partners LLC Buys 7,791 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cerity Partners LLC boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 98.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,667 shares of the electronics maker’s stock after purchasing an additional 7,791 shares during the quarter. Cerity Partners LLC’s holdings in TE Connectivity were worth $2,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth about $30,000. Jones Financial Companies Lllp increased its holdings in shares of TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of TE Connectivity in the third quarter worth about $35,000. Money Concepts Capital Corp increased its holdings in shares of TE Connectivity by 101.3% in the fourth quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 162 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of TE Connectivity by 176.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TEL shares. Citigroup started coverage on TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective for the company. Robert W. Baird increased their price objective on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Truist Financial increased their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus increased their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $140.55 on Friday. The stock has a 50 day moving average price of $142.65 and a 200 day moving average price of $135.52. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The stock has a market capitalization of $43.68 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm posted $1.53 earnings per share. The business’s revenue was down .3% on a year-over-year basis. Analysts predict that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s payout ratio is 22.39%.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.86% 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.