Park Avenue Securities LLC Has $1.15 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Park Avenue Securities LLC raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,142 shares of the electronics maker’s stock after acquiring an additional 985 shares during the period. Park Avenue Securities LLC’s holdings in TE Connectivity were worth $1,151,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vista Investment Management raised its holdings in shares of TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker’s stock worth $1,891,000 after acquiring an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock valued at $534,000 after purchasing an additional 75 shares during the period. Modera Wealth Management LLC boosted its position in shares of TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 78 shares during the period. Wedmont Private Capital grew its position in TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 80 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in TE Connectivity by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after buying an additional 83 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $4,130,963.28. The trade was a 49.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Malavika Sagar sold 3,125 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the transaction, the senior vice president now owns 5,927 shares of the company’s stock, valued at $948,320. The trade was a 34.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,675 shares of company stock valued at $27,369,059 in the last quarter. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Friday, April 25th. UBS Group raised their price target on TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a report on Friday, May 30th. Truist Financial dropped their target price on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their target price on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.50.

TE Connectivity Trading Down 0.4%

Shares of NYSE:TEL opened at $165.70 on Thursday. The firm has a market cap of $49.14 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.11 and a beta of 1.23. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $167.94. The company’s fifty day simple moving average is $148.66 and its 200 day simple moving average is $147.93. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

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

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.71%. TE Connectivity’s payout ratio is 62.42%.

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.