TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Provence Wealth Management Group

Provence Wealth Management Group grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,897 shares of the electronics maker’s stock after purchasing an additional 152 shares during the quarter. Provence Wealth Management Group’s holdings in TE Connectivity were worth $267,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp increased its stake in TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in TE Connectivity in the 4th quarter valued at $30,000. Wetzel Investment Advisors Inc. acquired a new stake in TE Connectivity during the 4th quarter worth $45,000. Exchange Traded Concepts LLC grew its holdings in shares of TE Connectivity by 176.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after buying an additional 210 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.4 %

Shares of TE Connectivity stock traded up $1.99 on Friday, reaching $142.00. The company had a trading volume of 1,197,854 shares, compared to its average volume of 2,325,435. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The firm has a market cap of $43.48 billion, a PE ratio of 12.99, a PEG ratio of 2.06 and a beta of 1.36. The firm’s 50 day moving average price is $142.46 and its two-hundred day moving average price is $136.77. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98.

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

TE Connectivity Dividend Announcement

The company 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 $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 21.59%.

Insiders Place Their Bets

In related news, Director Mark Trudeau sold 7,044 shares of TE Connectivity 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 owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Stifel Nicolaus upped their target price on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com initiated coverage on TE Connectivity in a report on Tuesday. They set a “buy” rating on the stock. Finally, Robert W. Baird dropped their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $153.50.

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.