Spire Wealth Management Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Spire Wealth Management lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 17.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,544 shares of the electronics maker’s stock after buying an additional 5,434 shares during the quarter. Spire Wealth Management’s holdings in TE Connectivity were worth $4,844,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TEL. Invesco Ltd. grew its holdings in TE Connectivity by 3.5% in the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after purchasing an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of TE Connectivity by 3.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after buying an additional 145,605 shares during the last quarter. Impax Asset Management Group plc raised its holdings in TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after acquiring an additional 51,866 shares during the last quarter. Morgan Stanley boosted its stake in TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of TE Connectivity by 3.6% in the third quarter. Northern Trust Corp now owns 2,672,201 shares of the electronics maker’s stock worth $330,097,000 after purchasing an additional 93,882 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 0.2 %

NYSE:TEL traded up $0.22 during mid-day trading on Monday, hitting $142.22. 1,415,767 shares of the company’s stock traded hands, compared to its average volume of 2,176,102. 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 company has a market capitalization of $43.55 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.09 and a beta of 1.36. The company has a fifty day moving average of $142.46 and a 200 day moving average of $136.96. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The business 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 business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 1.83%. TE Connectivity’s dividend payout ratio is presently 21.59%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TEL shares. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. 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 research note on Thursday, January 25th. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. dropped their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird reduced their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

Insider Buying and Selling at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was 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 of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.86% of the stock is owned by corporate insiders.

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.