Proficio Capital Partners LLC Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Proficio Capital Partners LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 36,171 shares of the electronics maker’s stock, valued at approximately $5,171,000.

Several other institutional investors and hedge funds have also modified their holdings of TEL. Assetmark Inc. lifted its stake in shares of TE Connectivity by 11.9% in the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock valued at $342,000 after purchasing an additional 241 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in TE Connectivity by 17.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock worth $300,000 after acquiring an additional 288 shares during the last quarter. Victory Capital Management Inc. lifted its position in TE Connectivity by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock worth $22,167,000 after acquiring an additional 1,154 shares during the last quarter. Huntington National Bank lifted its position in TE Connectivity by 5.6% during the 3rd quarter. Huntington National Bank now owns 3,870 shares of the electronics maker’s stock worth $585,000 after acquiring an additional 204 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Up 3.5 %

Shares of NYSE:TEL opened at $146.22 on Monday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $43.63 billion, a PE ratio of 23.36, a PEG ratio of 2.11 and a beta of 1.32. The company has a 50 day moving average price of $148.53 and a two-hundred day moving average price of $148.48.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is currently 41.53%.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TEL. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Bank of America boosted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $167.00.

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.