TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Sandy Spring Bank

Sandy Spring Bank lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 55.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,007 shares of the electronics maker’s stock after purchasing an additional 359 shares during the period. Sandy Spring Bank’s holdings in TE Connectivity were worth $144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 9,670 shares during the last quarter. 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 valued at $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Meyer Handelman Co. lifted its holdings in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after acquiring an additional 9,175 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in TE Connectivity in the fourth quarter valued at approximately $2,920,000. Finally, abrdn plc acquired a new position in TE Connectivity in the fourth quarter valued at approximately $15,739,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report 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 note on Thursday, January 23rd. Finally, Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Down 0.1 %

TE Connectivity stock opened at $146.10 on Friday. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The stock’s fifty day simple moving average is $148.91 and its 200-day simple moving average is $148.33. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $43.59 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.94%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 45.37%.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on 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 of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.