Carnegie Capital Asset Management LLC Has $15.53 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

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

A number of other large investors have also recently modified their holdings of TEL. Bruce G. Allen Investments LLC bought a new position in shares of TE Connectivity in the 4th quarter valued at $30,000. Jones Financial Companies Lllp boosted its holdings in TE Connectivity by 358.5% in the third 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. Arlington Trust Co LLC acquired a new stake in TE Connectivity during the 3rd quarter valued at approximately $35,000. Money Concepts Capital Corp boosted 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 lifted its holdings in TE Connectivity by 176.5% in the fourth 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. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’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 sale, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Truist Financial upped their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. raised their target price on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday. Robert W. Baird boosted their target price on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup began coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Stock Performance

TE Connectivity stock traded down $3.73 during mid-day trading on Friday, reaching $142.98. 1,946,581 shares of the company’s stock were exchanged, compared to its average volume of 1,855,798. The business’s fifty day simple moving average is $142.73 and its 200 day simple moving average is $134.96. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98. The firm has a market capitalization of $44.44 billion, a PE ratio of 13.57, a P/E/G ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) 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 business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the business posted $1.53 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. TE Connectivity’s dividend payout ratio is presently 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.