Focus Partners Wealth Purchases 2,028 Shares of TE Connectivity Ltd. (NYSE:TEL)

Focus Partners Wealth grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,676 shares of the electronics maker’s stock after buying an additional 2,028 shares during the quarter. Focus Partners Wealth’s holdings in TE Connectivity were worth $6,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $909,598,000. Geode Capital Management LLC grew its holdings in shares of TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after buying an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TE Connectivity by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock valued at $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.9%

TEL opened at $162.47 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $163.39. The company has a market capitalization of $48.18 billion, a PE ratio of 25.95, a PEG ratio of 2.11 and a beta of 1.24. The firm’s 50 day simple moving average is $141.11 and its two-hundred day simple moving average is $146.37.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share 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 company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.86 earnings per share. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TEL shares. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Citigroup dropped their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Thursday, April 24th. StockNews.com cut 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 target price 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 research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $159.50.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction 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 trade represents a 49.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 154,275 shares of company stock worth $23,740,419 in the last three months. Company insiders own 0.90% of the company’s stock.

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.