Park Avenue Securities LLC Acquires 985 Shares of TE Connectivity Ltd. (NYSE:TEL)

Park Avenue Securities LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,142 shares of the electronics maker’s stock after buying an additional 985 shares during the quarter. Park Avenue Securities LLC’s holdings in TE Connectivity were worth $1,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Truist Financial Corp increased its holdings in TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after purchasing an additional 31,991 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker’s stock worth $949,000 after buying an additional 841 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of TE Connectivity by 80.6% during the fourth quarter. Venturi Wealth Management LLC now owns 11,821 shares of the electronics maker’s stock valued at $1,690,000 after buying an additional 5,274 shares during the period. Congress Asset Management Co. raised its holdings in shares of TE Connectivity by 3.5% in the fourth quarter. Congress Asset Management Co. now owns 97,044 shares of the electronics maker’s stock valued at $13,874,000 after acquiring an additional 3,309 shares in the last quarter. Finally, First National Bank & Trust Co. of Newtown purchased a new stake in TE Connectivity in the fourth quarter worth about $925,000. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. Wells Fargo & Company lifted their target price on TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. boosted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Finally, HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus price target of $162.50.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at approximately $3,678,728.75. This represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,675 shares of company stock worth $27,369,059. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Performance

Shares of TEL opened at $165.70 on Thursday. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $167.94. The stock has a market cap of $49.14 billion, a P/E ratio of 26.47, a PEG ratio of 2.11 and a beta of 1.23. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $148.66 and a two-hundred day moving average of $147.93.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the company earned $1.86 EPS. TE Connectivity’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.71%. TE Connectivity’s payout ratio is 62.42%.

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.