Sequoia Financial Advisors LLC Purchases Shares of 7,326 TE Connectivity Ltd. (NYSE:TEL)

Sequoia Financial Advisors LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,326 shares of the electronics maker’s stock, valued at approximately $1,047,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TEL. Nomura Asset Management Co. Ltd. boosted its position in TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after acquiring an additional 9,670 shares during the period. Glenmede Trust Co. NA lifted its holdings in TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares during the period. Meyer Handelman Co. grew its position in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in TE Connectivity during the 4th quarter valued at about $2,920,000. Finally, abrdn plc bought a new stake in shares of TE Connectivity during the 4th quarter worth about $15,739,000. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Price Performance

NYSE TEL opened at $146.22 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a market cap of $43.63 billion, a PE ratio of 23.36, a PEG ratio of 2.11 and a beta of 1.32. The stock’s 50-day moving average price is $148.53 and its two-hundred day moving average price is $148.50.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. TE Connectivity’s payout ratio is currently 41.53%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company’s stock.

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.