Sei Investments Co. Purchases 9,913 Shares of TE Connectivity Ltd. (NYSE:TEL)

Sei Investments Co. raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,699 shares of the electronics maker’s stock after acquiring an additional 9,913 shares during the quarter. Sei Investments Co.’s holdings in TE Connectivity were worth $45,278,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its stake in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity in the 4th quarter valued at $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup upped their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Up 2.0 %

Shares of NYSE:TEL opened at $149.04 on Tuesday. The stock has a market cap of $44.47 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.11 and a beta of 1.32. The business’s 50 day moving average is $149.07 and its 200 day moving average is $148.35. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-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.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data 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. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 EPS. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.91%. TE Connectivity’s dividend payout ratio (DPR) is 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.