Wedmont Private Capital Buys 80 Shares of TE Connectivity Ltd. (NYSE:TEL)

Wedmont Private Capital grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,944 shares of the electronics maker’s stock after buying an additional 80 shares during the quarter. Wedmont Private Capital’s holdings in TE Connectivity were worth $275,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TEL. SRS Capital Advisors Inc. increased its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $44,000. Deseret Mutual Benefit Administrators bought a new position in TE Connectivity in the 4th quarter valued at approximately $57,000. Finally, Loomis Sayles & Co. L P grew its holdings in TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock worth $71,000 after acquiring an additional 123 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TEL shares. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Robert W. Baird upped their price target on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Wall Street Zen lowered TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Truist Financial reduced their target price on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.50.

Insider Activity at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president now owns 24,625 shares of the company’s stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is owned by company insiders.

TE Connectivity Price Performance

TE Connectivity stock opened at $165.70 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $167.94. The stock’s 50 day moving average price is $148.66 and its two-hundred day moving average price is $147.93. The stock has a market capitalization 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 (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 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 business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the company posted $1.86 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

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

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.