Carnegie Capital Asset Management LLC Acquires 7,027 Shares of TE Connectivity Ltd. (NYSE:TEL)

Carnegie Capital Asset Management LLC raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,506 shares of the electronics maker’s stock after purchasing an additional 7,027 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in TE Connectivity were worth $15,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $30,000. Arlington Trust Co LLC bought a new stake in shares of TE Connectivity in the 3rd quarter valued at approximately $35,000. Money Concepts Capital Corp lifted its stake in shares of TE Connectivity by 101.3% in the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 162 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 210 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 2.5 %

Shares of TEL stock traded down $3.73 during mid-day trading on Friday, hitting $142.98. The stock had a trading volume of 1,946,581 shares, compared to its average volume of 1,855,798. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The firm’s 50-day moving average is $142.73 and its two-hundred day moving average is $134.96. The firm has a market capitalization of $44.44 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. TE Connectivity’s revenue was down .3% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on TEL shares. Stifel Nicolaus raised their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Truist Financial upped their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $153.30.

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.