1,622 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Pointe Capital Management LLC

Pointe Capital Management LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,622 shares of the electronics maker’s stock, valued at approximately $228,000.

A number of other large investors also recently modified their holdings of TEL. Provence Wealth Management Group increased its holdings in TE Connectivity by 8.7% in the fourth quarter. Provence Wealth Management Group now owns 1,897 shares of the electronics maker’s stock valued at $267,000 after buying an additional 152 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of TE Connectivity by 12.7% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,241 shares of the electronics maker’s stock valued at $315,000 after acquiring an additional 252 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of TE Connectivity by 39.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,692 shares of the electronics maker’s stock valued at $378,000 after acquiring an additional 767 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $5,376,000. Finally, Natixis Advisors L.P. lifted its position in shares of TE Connectivity by 5.2% during the 4th quarter. Natixis Advisors L.P. now owns 118,318 shares of the electronics maker’s stock worth $16,622,000 after buying an additional 5,838 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock traded up $1.99 during mid-day trading on Friday, hitting $142.00. The stock had a trading volume of 1,197,854 shares, compared to its average volume of 2,325,435. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company’s 50-day simple moving average is $142.46 and its 200-day simple moving average is $136.77. The firm has a market cap of $43.48 billion, a PE ratio of 12.99, a PEG ratio of 2.06 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts anticipate that TE Connectivity Ltd. will post 7.51 earnings per share for the current year.

TE Connectivity Dividend Announcement

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 given a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.83%. TE Connectivity’s payout ratio is currently 21.59%.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research analyst reports. Jefferies Financial Group started coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Truist Financial upped their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird decreased their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.50.

Insider Activity

In related news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

TE Connectivity 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.