Wayfinding Financial LLC Purchases New Position in TE Connectivity Ltd. (NYSE:TEL)

Wayfinding Financial LLC purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,464 shares of the electronics maker’s stock, valued at approximately $209,000.

A number of other hedge funds also recently bought and sold shares of TEL. PNC Financial Services Group Inc. boosted its position in TE Connectivity by 0.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 116,966 shares of the electronics maker’s stock valued at $17,661,000 after acquiring an additional 889 shares in the last quarter. King Luther Capital Management Corp boosted its position in TE Connectivity by 2.1% during the 3rd quarter. King Luther Capital Management Corp now owns 13,923 shares of the electronics maker’s stock valued at $2,102,000 after acquiring an additional 288 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after acquiring an additional 9,864 shares in the last quarter. First County Bank CT boosted its position in TE Connectivity by 27.8% during the 3rd quarter. First County Bank CT now owns 2,571 shares of the electronics maker’s stock valued at $388,000 after acquiring an additional 559 shares in the last quarter. Finally, Studio Investment Management LLC boosted its position in shares of TE Connectivity by 6.4% in the 3rd quarter. Studio Investment Management LLC now owns 2,520 shares of the electronics maker’s stock worth $380,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $146.10 on Friday. The firm has a market cap of $43.59 billion, a PE ratio of 23.34, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $148.91 and a two-hundred day simple moving average of $148.33. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current 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 paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. TE Connectivity’s payout ratio is currently 45.37%.

Analyst Ratings Changes

A number of brokerages have recently commented on TEL. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Seven equities research 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 company presently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The stock was 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 directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

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.