Rossby Financial LCC Buys 57 Shares of TE Connectivity Ltd. $TEL

Rossby Financial LCC raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,000 shares of the electronics maker’s stock after purchasing an additional 57 shares during the period. Rossby Financial LCC’s holdings in TE Connectivity were worth $169,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in TE Connectivity during the second quarter valued at about $26,000. Salomon & Ludwin LLC boosted its stake in shares of TE Connectivity by 58.9% in the second quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 66 shares during the period. Richardson Financial Services Inc. bought a new position in shares of TE Connectivity in the second quarter worth about $33,000. Costello Asset Management INC bought a new position in shares of TE Connectivity in the first quarter worth about $28,000. Finally, Millstone Evans Group LLC bought a new position in shares of TE Connectivity in the first quarter worth about $32,000. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total value of $4,841,311.50. Following the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,272,868.24. The trade was a 47.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

NYSE:TEL opened at $237.06 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $70.05 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.55 and a beta of 1.26. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $239.75. The business’s 50-day moving average is $216.47 and its 200 day moving average is $185.55.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity’s payout ratio is currently 58.80%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEL. Truist Financial upped their price objective on TE Connectivity from $156.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 24th. Evercore ISI upped their price objective on TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. The Goldman Sachs Group upped their price objective on TE Connectivity from $228.00 to $263.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company upped their price objective on TE Connectivity from $198.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.00.

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.