EP Wealth Advisors LLC Grows Stock Position in TE Connectivity Ltd. (NYSE:TEL)

EP Wealth Advisors LLC raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,939 shares of the electronics maker’s stock after buying an additional 99 shares during the period. EP Wealth Advisors LLC’s holdings in TE Connectivity were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. grew its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $44,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of a number of analyst reports. Truist Financial dropped their target price on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Robert W. Baird lifted their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price objective on TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $159.50.

TE Connectivity Trading Up 0.9%

Shares of TE Connectivity stock opened at $162.47 on Wednesday. The stock has a market cap of $48.18 billion, a P/E ratio of 25.95, a P/E/G ratio of 2.11 and a beta of 1.24. The stock’s 50 day simple moving average is $141.11 and its 200-day simple moving average is $146.37. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $163.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

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. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is currently 62.42%.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $800,000.00. Following the completion of the transaction, the insider now owns 23,646 shares in the company, valued at $3,783,360. This represents a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,275 shares of company stock worth $23,740,419. 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.