Spire Wealth Management Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Spire Wealth Management raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,544 shares of the electronics maker’s stock after buying an additional 5,434 shares during the period. Spire Wealth Management’s holdings in TE Connectivity were worth $4,844,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in TE Connectivity during the 4th quarter worth $30,000. Jones Financial Companies Lllp boosted its position in shares of TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $45,000. Exchange Traded Concepts LLC raised its holdings in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after buying an additional 210 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $48,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on TEL shares. Robert W. Baird reduced their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Stifel Nicolaus lifted 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. Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, StockNews.com began coverage on TE Connectivity in a research note on Tuesday, April 30th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and six have given a buy 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 $153.89.

Insider Activity at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL traded up $0.22 during midday trading on Monday, reaching $142.22. 1,415,767 shares of the company traded hands, compared to its average volume of 2,176,102. The firm has a market capitalization of $43.55 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The company has a fifty day moving average price of $142.46 and a 200 day moving average price of $136.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. On average, analysts expect that TE Connectivity Ltd. will post 7.51 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.83%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

TE Connectivity 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.