Confluence Wealth Services Inc. Invests $206,000 in TE Connectivity Ltd. (NYSE:TEL)

Confluence Wealth Services Inc. acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,468 shares of the electronics maker’s stock, valued at approximately $206,000.

Several other large investors have also recently modified their holdings of TEL. Jones Financial Companies Lllp increased its position in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of TE Connectivity during the 4th quarter valued at approximately $30,000. Arlington Trust Co LLC bought a new position in shares of TE Connectivity during the 3rd quarter valued at approximately $35,000. Money Concepts Capital Corp increased its position in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 162 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $147.87 on Wednesday. The firm has a market cap of $45.96 billion, a P/E ratio of 14.03, a P/E/G ratio of 2.06 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The stock’s fifty day moving average price is $142.58 and its 200-day moving average price is $134.56.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. On average, equities research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

TE Connectivity declared that its board has initiated a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.76%. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TEL shares. Robert W. Baird boosted their target price on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wells Fargo & Company assumed coverage on TE Connectivity in a research report on Friday, December 15th. They issued an “equal weight” rating and a $144.00 price objective on the stock. Citigroup assumed coverage on TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, StockNews.com assumed coverage on TE Connectivity in a research report on Saturday. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $150.00.

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.