Summit Trail Advisors LLC Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Summit Trail Advisors LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 23.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,414 shares of the electronics maker’s stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TEL. Jones Financial Companies Lllp raised 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 worth $30,000 after purchasing an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in TE Connectivity in the fourth quarter worth $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $45,000. Exchange Traded Concepts LLC grew its position in shares of TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after buying an additional 210 shares during the period. Finally, BKM Wealth Management LLC purchased a new position in TE Connectivity during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TEL shares. Stifel Nicolaus lifted their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird dropped their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Wednesday. They issued a “buy” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.89.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $143.24 on Wednesday. The firm has a fifty day simple moving average of $142.44 and a two-hundred day simple moving average of $137.30. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 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 stock has a market capitalization of $43.86 billion, a P/E ratio of 13.11, a PEG ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. On average, analysts expect that TE Connectivity Ltd. will post 7.51 earnings per share 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. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 21.59%.

Insider Transactions at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% 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.