Avantax Advisory Services Inc. Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

Avantax Advisory Services Inc. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 12.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,567 shares of the electronics maker’s stock after purchasing an additional 1,183 shares during the period. Avantax Advisory Services Inc.’s holdings in TE Connectivity were worth $1,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Securian Asset Management Inc. purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $2,286,000. Great Lakes Advisors LLC boosted its position in shares of TE Connectivity by 19.1% during the 4th quarter. Great Lakes Advisors LLC now owns 2,486 shares of the electronics maker’s stock worth $355,000 after purchasing an additional 399 shares during the period. Truvestments Capital LLC boosted its position in shares of TE Connectivity by 15.5% during the 4th quarter. Truvestments Capital LLC now owns 1,112 shares of the electronics maker’s stock worth $159,000 after purchasing an additional 149 shares during the period. EverSource Wealth Advisors LLC boosted its position in TE Connectivity by 31.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 941 shares of the electronics maker’s stock valued at $134,000 after buying an additional 226 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in TE Connectivity in the 4th quarter valued at approximately $1,047,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $146.80 on Wednesday. The company’s fifty day moving average price is $148.67 and its 200 day moving average price is $148.40. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month 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. The firm has a market capitalization of $43.80 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.11 and a beta of 1.32.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial decreased their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.