EverSource Wealth Advisors LLC Boosts Holdings in TE Connectivity Ltd. (NYSE:TEL)

EverSource Wealth Advisors LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,020 shares of the electronics maker’s stock after buying an additional 141 shares during the period. EverSource Wealth Advisors LLC’s holdings in TE Connectivity were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new position in TE Connectivity in the third quarter valued at $77,000. Ieq Capital LLC grew its position in shares of TE Connectivity by 8.2% during the third quarter. Ieq Capital LLC now owns 12,810 shares of the electronics maker’s stock worth $1,582,000 after buying an additional 969 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of TE Connectivity by 48.2% during the third quarter. Victory Capital Management Inc. now owns 66,349 shares of the electronics maker’s stock worth $8,196,000 after buying an additional 21,577 shares during the period. HM Payson & Co. raised its holdings in TE Connectivity by 29.7% in the third quarter. HM Payson & Co. now owns 3,540 shares of the electronics maker’s stock valued at $437,000 after acquiring an additional 810 shares in the last quarter. Finally, Smithfield Trust Co lifted its stake in TE Connectivity by 2.8% in the third quarter. Smithfield Trust Co now owns 8,018 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 221 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a research report on Friday. They set a “buy” rating for the company. JPMorgan Chase & Co. cut their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group started coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Finally, Robert W. Baird cut their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.89.

Insider Activity at TE Connectivity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on 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 owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by insiders.

TE Connectivity Price Performance

TEL stock opened at $150.87 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $46.20 billion, a P/E ratio of 13.80, a PEG ratio of 2.23 and a beta of 1.36. The business has a 50 day simple moving average of $144.53 and a 200-day simple moving average of $139.85. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $152.79.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. TE Connectivity’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.5 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.72%. TE Connectivity’s payout ratio is 23.79%.

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.