SVB Wealth LLC Has $3.68 Million Position in TE Connectivity Ltd. (NYSE:TEL)

SVB Wealth LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,203 shares of the electronics maker’s stock after selling 237 shares during the quarter. SVB Wealth LLC’s holdings in TE Connectivity were worth $3,682,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TEL. Jones Financial Companies Lllp grew its holdings in TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after buying an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in TE Connectivity in the 4th quarter valued at $30,000. Arlington Trust Co LLC acquired a new position in TE Connectivity in the 3rd quarter valued at $35,000. Money Concepts Capital Corp lifted its position in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 162 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after acquiring an additional 210 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of TEL stock opened at $141.48 on Thursday. 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 twelve month low of $115.00 and a twelve month high of $147.98. The company has a market cap of $43.97 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.03 and a beta of 1.39. The business has a fifty day simple moving average of $142.77 and a 200 day simple moving average of $135.37.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company earned $1.53 EPS. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 7.57 EPS 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. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.84%. TE Connectivity’s dividend payout ratio is presently 22.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. StockNews.com assumed coverage on TE Connectivity in a research report on Sunday. They set a “buy” rating for the company. Robert W. Baird upped 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. Citigroup assumed coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price for the company. Finally, Truist Financial upped their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.