Summit Trail Advisors LLC Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Summit Trail Advisors LLC raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 23.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,414 shares of the electronics maker’s stock after buying an additional 451 shares during the period. Summit Trail Advisors LLC’s holdings in TE Connectivity were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in shares of 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 purchasing an additional 190 shares during the period. Bruce G. Allen Investments LLC acquired a new position in TE Connectivity in the 4th quarter valued at about $30,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $45,000. Exchange Traded Concepts LLC raised 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 buying an additional 210 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in TE Connectivity in the fourth quarter valued at approximately $48,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

TEL stock opened at $143.24 on Wednesday. The stock has a market cap of $43.86 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.09 and a beta of 1.36. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $142.44 and a 200 day moving average price of $137.30.

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

TE Connectivity Announces Dividend

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. This represents a $2.60 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 21.59%.

Insider Activity

In other 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 transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TEL shares. StockNews.com assumed coverage on TE Connectivity in a research report on Wednesday. They issued a “buy” rating on the stock. Stifel Nicolaus upped their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. cut their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $153.89.

About TE Connectivity

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.