Axxcess Wealth Management LLC Purchases 252 Shares of TE Connectivity Ltd. (NYSE:TEL)

Axxcess Wealth Management LLC grew its position in TE Connectivity Ltd. (NYSE:TEL) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,241 shares of the electronics maker’s stock after purchasing an additional 252 shares during the quarter. Axxcess Wealth Management LLC’s holdings in TE Connectivity were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TEL. Stratos Wealth Partners LTD. increased its position in TE Connectivity by 10.1% during the third quarter. Stratos Wealth Partners LTD. now owns 2,957 shares of the electronics maker’s stock worth $365,000 after acquiring an additional 272 shares during the period. Brown Advisory Inc. increased its position in TE Connectivity by 36.0% during the third quarter. Brown Advisory Inc. now owns 18,375 shares of the electronics maker’s stock worth $2,270,000 after acquiring an additional 4,862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in TE Connectivity by 1.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,274 shares of the electronics maker’s stock worth $6,828,000 after acquiring an additional 961 shares during the period. Mackenzie Financial Corp increased its position in TE Connectivity by 43.7% during the third quarter. Mackenzie Financial Corp now owns 50,518 shares of the electronics maker’s stock worth $6,175,000 after acquiring an additional 15,354 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in TE Connectivity by 1.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,211 shares of the electronics maker’s stock worth $9,908,000 after acquiring an additional 761 shares during the period. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TEL. JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird decreased their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. StockNews.com began coverage on shares of TE Connectivity in a research note on Wednesday. They set a “buy” rating on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, Truist Financial lifted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.89.

Insider Activity at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

TE Connectivity stock opened at $144.80 on Thursday. The stock has a 50-day simple moving average of $142.44 and a 200 day simple moving average of $137.30. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98. The stock has a market capitalization of $44.34 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 7.51 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued 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 1.80%. TE Connectivity’s dividend payout ratio is 23.79%.

TE Connectivity Company 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.