Peapack Gladstone Financial Corp Buys 6,497 Shares of TE Connectivity Ltd. (NYSE:TEL)

Peapack Gladstone Financial Corp grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,671 shares of the electronics maker’s stock after purchasing an additional 6,497 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in TE Connectivity were worth $17,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Pinnacle Bancorp Inc. bought a new position in TE Connectivity during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new position in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the 4th quarter worth about $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Citigroup increased their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Finally, Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Down 6.2 %

Shares of TE Connectivity stock opened at $121.92 on Friday. TE Connectivity Ltd. has a twelve month low of $120.99 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $147.64 and its 200 day moving average is $148.05. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $1.84 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.33%. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

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.