SVB Wealth LLC Has $3.68 Million Position in TE Connectivity Ltd. (NYSE:TEL)

SVB Wealth LLC decreased its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,203 shares of the electronics maker’s stock after selling 237 shares during the quarter. SVB Wealth LLC’s holdings in TE Connectivity were worth $3,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in TE Connectivity in the fourth quarter worth approximately $584,131,000. Moneta Group Investment Advisors LLC increased its holdings in TE Connectivity by 119,784.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock worth $372,832,000 after buying an additional 3,244,957 shares during the last quarter. State Street Corp increased its holdings in TE Connectivity by 19.5% in the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock worth $1,851,648,000 after buying an additional 2,309,835 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in TE Connectivity in the third quarter worth approximately $165,640,000. Finally, Morgan Stanley increased its holdings in TE Connectivity by 56.5% in the fourth quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock worth $409,818,000 after buying an additional 1,289,023 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Stifel Nicolaus increased their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Finally, Truist Financial increased their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus target price of $153.30.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value 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 $4,386,096. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Down 1.0 %

TEL opened at $141.48 on Thursday. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $43.97 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.03 and a beta of 1.39. The business has a 50 day moving average of $142.77 and a 200-day moving average of $135.37.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.87 billion. During the same period in the prior year, the business earned $1.53 earnings per share. TE Connectivity’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is currently 22.39%.

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.