14,017 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Security National Bank of Sioux City Iowa IA

Security National Bank of Sioux City Iowa IA acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, Holdings Channel reports. The fund acquired 14,017 shares of the electronics maker’s stock, valued at approximately $2,004,000. TE Connectivity accounts for approximately 1.4% of Security National Bank of Sioux City Iowa IA’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new position in TE Connectivity in the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

TEL has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. UBS Group reissued a “buy” rating and set a $163.00 price target (up previously from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Thursday, April 24th. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average price target of $159.50.

Insider Buying and Selling

In related news, CFO Heath A. Mitts sold 37,844 shares of TE Connectivity stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the transaction, the chief financial officer now owns 45,503 shares in the company, valued at $6,976,974.99. The trade was a 45.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business’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 transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,062,559 in the last ninety days. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 1.8%

NYSE:TEL opened at $163.58 on Friday. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $163.61. The stock’s fifty day moving average is $141.62 and its two-hundred day moving average is $146.56. The stock has a market capitalization of $48.51 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 62.42%.

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.