Worth Financial Advisory Group LLC Purchases New Holdings in TE Connectivity Ltd. (NYSE:TEL)

Worth Financial Advisory Group LLC acquired a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,532 shares of the electronics maker’s stock, valued at approximately $225,000.

Several other large investors have also recently made changes to their positions in TEL. Nomura Asset Management Co. Ltd. raised its stake in shares of TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares during the period. Central Pacific Bank Trust Division bought a new stake in TE Connectivity in the 4th quarter valued at about $2,920,000. Glenmede Trust Co. NA lifted its holdings in TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Meyer Handelman Co. boosted its position in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. Finally, abrdn plc purchased a new position in shares of TE Connectivity in the fourth quarter worth about $15,739,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

TEL stock opened at $149.69 on Thursday. The firm has a 50 day simple moving average of $149.34 and a two-hundred day simple moving average of $148.41. The stock has a market cap of $44.66 billion, a PE ratio of 23.91, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. 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 released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating 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 business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given 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 yield of 1.90%. TE Connectivity’s payout ratio is presently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

TEL has been the topic of a number of recent research reports. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $167.00.

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.