Wealth Enhancement Advisory Services LLC Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Wealth Enhancement Advisory Services LLC raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,705 shares of the electronics maker’s stock after buying an additional 2,691 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TE Connectivity were worth $5,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in TE Connectivity by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker’s stock worth $949,000 after acquiring an additional 841 shares during the last quarter. J. Safra Sarasin Holding AG increased its holdings in shares of TE Connectivity by 128.4% in the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker’s stock valued at $2,219,000 after purchasing an additional 8,728 shares during the period. New York State Common Retirement Fund raised its stake in shares of TE Connectivity by 48.8% in the fourth quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker’s stock worth $160,000 after purchasing an additional 368 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of TE Connectivity by 3.3% during the fourth quarter. QRG Capital Management Inc. now owns 108,161 shares of the electronics maker’s stock worth $15,464,000 after purchasing an additional 3,432 shares during the period. Finally, Beverly Hills Private Wealth LLC increased its holdings in TE Connectivity by 61.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker’s stock worth $1,587,000 after buying an additional 4,214 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.9%

Shares of NYSE TEL opened at $168.04 on Thursday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $168.49. The company’s 50-day simple moving average is $156.08 and its 200-day simple moving average is $148.82. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $49.83 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.

Analysts Set New Price Targets

Several brokerages have commented on TEL. Robert W. Baird lifted their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. UBS Group boosted their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Finally, Wall Street Zen cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.50.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 25,976 shares in the company, valued at $4,130,963.28. This trade represents a 49.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92% 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 quarter. Company insiders own 0.90% of the company’s stock.

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.