Obermeyer Wealth Partners Has $416,000 Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Obermeyer Wealth Partners grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,913 shares of the electronics maker’s stock after purchasing an additional 136 shares during the period. Obermeyer Wealth Partners’ holdings in TE Connectivity were worth $416,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TEL. Meyer Handelman Co. grew its stake in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after purchasing an additional 9,175 shares in the last quarter. abrdn plc bought a new position in TE Connectivity during the fourth quarter worth about $15,739,000. Truist Financial Corp raised its stake in TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after buying an additional 31,991 shares during the period. Carnegie Investment Counsel lifted its position in shares of TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock valued at $17,019,000 after buying an additional 4,913 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $237,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.9%

Shares of TEL stock opened at $162.47 on Wednesday. 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 firm has a market capitalization of $48.18 billion, a P/E ratio of 25.95, a P/E/G ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $163.39. The stock’s fifty day simple moving average is $141.11 and its 200 day simple moving average is $146.37.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.86 EPS. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. 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 1.75%. TE Connectivity’s payout ratio is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,275 shares of company stock worth $23,740,419. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the topic of several research analyst reports. Bank of America increased their price objective 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. Wells Fargo & Company increased their target price on TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. HSBC upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average target price of $159.50.

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.