Sivia Capital Partners LLC Invests $213,000 in TE Connectivity Ltd. (NYSE:TEL)

Sivia Capital Partners LLC bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,510 shares of the electronics maker’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its stake in shares of TE Connectivity by 1.7% during the first quarter. Piscataqua Savings Bank now owns 10,904 shares of the electronics maker’s stock valued at $1,541,000 after buying an additional 177 shares during the period. Gateway Investment Advisers LLC increased its position in shares of TE Connectivity by 13.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,936 shares of the electronics maker’s stock worth $415,000 after acquiring an additional 351 shares in the last quarter. Procyon Advisors LLC increased its position in shares of TE Connectivity by 1,001.0% in the first quarter. Procyon Advisors LLC now owns 17,671 shares of the electronics maker’s stock worth $2,497,000 after acquiring an additional 16,066 shares in the last quarter. Vest Financial LLC increased its position in shares of TE Connectivity by 73.9% in the first quarter. Vest Financial LLC now owns 7,406 shares of the electronics maker’s stock worth $1,047,000 after acquiring an additional 3,148 shares in the last quarter. Finally, Breakwater Capital Group acquired a new stake in shares of TE Connectivity in the first quarter worth $224,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEL. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Citigroup lowered their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Truist Financial lowered their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.50.

TE Connectivity Trading Up 0.6%

NYSE TEL opened at $165.62 on Tuesday. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $166.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market capitalization of $49.11 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company’s fifty day moving average price is $147.06 and its two-hundred day moving average price is $147.68.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm posted $1.86 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared 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 is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.

Insider Activity at TE Connectivity

In related news, CFO Heath A. Mitts sold 37,844 shares of TE Connectivity stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at $6,976,974.99. This trade represents a 45.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,369,059 in the last ninety days. 0.90% of the stock is owned by insiders.

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.