Welch & Forbes LLC Invests $211,000 in TE Connectivity Ltd. (NYSE:TEL)

Welch & Forbes LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,499 shares of the electronics maker’s stock, valued at approximately $211,000.

Other large investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in shares of TE Connectivity by 60.0% during the fourth quarter. Apollon Wealth Management LLC now owns 7,730 shares of the electronics maker’s stock worth $1,086,000 after purchasing an additional 2,900 shares during the last quarter. Private Advisor Group LLC lifted its position in TE Connectivity by 4.0% during the 4th quarter. Private Advisor Group LLC now owns 11,219 shares of the electronics maker’s stock worth $1,576,000 after buying an additional 429 shares in the last quarter. Summit Trail Advisors LLC increased its position in TE Connectivity by 23.0% in the 4th quarter. Summit Trail Advisors LLC now owns 2,414 shares of the electronics maker’s stock valued at $339,000 after acquiring an additional 451 shares in the last quarter. Spire Wealth Management raised its stake in shares of TE Connectivity by 17.5% in the fourth quarter. Spire Wealth Management now owns 36,544 shares of the electronics maker’s stock worth $4,844,000 after acquiring an additional 5,434 shares during the last quarter. Finally, Pointe Capital Management LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth approximately $228,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 0.2 %

Shares of TEL stock traded up $0.25 on Wednesday, hitting $143.49. The stock had a trading volume of 387,114 shares, compared to its average volume of 2,153,167. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a fifty day moving average price of $142.44 and a two-hundred day moving average price of $137.30. The firm has a market cap of $43.94 billion, a P/E ratio of 13.08, a PEG ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. 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 firm earned $1.65 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. As a group, analysts forecast that TE Connectivity Ltd. will post 7.51 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.81%. TE Connectivity’s dividend payout ratio is currently 21.59%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Robert W. Baird decreased their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. 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. StockNews.com began coverage on shares of TE Connectivity in a research report on Wednesday. They set a “buy” rating for the company. Finally, Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $153.89.

TE Connectivity Company 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.