Essex Financial Services Inc. Purchases 111 Shares of TE Connectivity Ltd. (NYSE:TEL)

Essex Financial Services Inc. raised its position in TE Connectivity Ltd. (NYSE:TEL) by 6.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,798 shares of the electronics maker’s stock after acquiring an additional 111 shares during the period. Essex Financial Services Inc.’s holdings in TE Connectivity were worth $232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CX Institutional lifted its stake in TE Connectivity by 20.9% in the 1st quarter. CX Institutional now owns 498 shares of the electronics maker’s stock valued at $64,000 after acquiring an additional 86 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of TE Connectivity by 20.2% during the 1st quarter. NEXT Financial Group Inc now owns 524 shares of the electronics maker’s stock worth $68,000 after purchasing an additional 88 shares in the last quarter. JJJ Advisors Inc. raised its stake in shares of TE Connectivity by 31.9% during the 1st quarter. JJJ Advisors Inc. now owns 364 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 88 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of TE Connectivity by 17.5% during the 1st quarter. CENTRAL TRUST Co now owns 605 shares of the electronics maker’s stock worth $78,000 after purchasing an additional 90 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of TE Connectivity by 0.7% during the 1st quarter. Whittier Trust Co. now owns 14,495 shares of the electronics maker’s stock worth $1,871,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 89.75% of the company’s stock.

Shares of NYSE TEL opened at $136.94 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $133.98. TE Connectivity Ltd. has a one year low of $75.70 and a one year high of $139.58. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Tuesday, April 20th. The electronics maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.09. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.52 billion. TE Connectivity had a return on equity of 16.76% and a net margin of 8.23%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. As a group, research analysts expect that TE Connectivity Ltd. will post 6.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 4th. Stockholders of record on Friday, February 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.46%. TE Connectivity’s payout ratio is 46.95%.

In other news, SVP Eric Resch sold 23,900 shares of the company’s stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $136.00, for a total transaction of $3,250,400.00. Following the completion of the sale, the senior vice president now directly owns 49,963 shares in the company, valued at approximately $6,794,968. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John S. Jenkins sold 9,140 shares of the company’s stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $135.65, for a total value of $1,239,841.00. Following the sale, the executive vice president now owns 24,710 shares of the company’s stock, valued at $3,351,911.50. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

TEL has been the topic of a number of analyst reports. Truist Securities upped their price objective on TE Connectivity from $131.00 to $139.00 and gave the stock a “hold” rating in a research note on Thursday, April 22nd. Truist upped their price objective on TE Connectivity from $139.00 to $1,315.00 in a research note on Thursday, April 22nd. Cowen reissued a “market perform” rating and set a $135.00 target price (down from $140.00) on shares of TE Connectivity in a report on Monday, April 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on TE Connectivity from $130.00 to $145.00 in a report on Thursday, April 22nd. Finally, Jefferies Financial Group boosted their target price on TE Connectivity from $156.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $216.40.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaƂ-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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