Sequoia Financial Advisors LLC Has $1.04 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Sequoia Financial Advisors LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 60.1% during the fourth quarter, Holdings Channel reports. The fund owned 7,406 shares of the electronics maker’s stock after acquiring an additional 2,781 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in TE Connectivity were worth $1,040,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TEL. Norges Bank acquired a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $584,131,000. Moneta Group Investment Advisors LLC increased its stake in TE Connectivity by 119,784.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock valued at $372,832,000 after buying an additional 3,244,957 shares during the period. State Street Corp increased its stake in TE Connectivity by 19.5% in the 1st quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after buying an additional 2,309,835 shares during the period. Qube Research & Technologies Ltd acquired a new position in TE Connectivity in the 3rd quarter valued at approximately $165,640,000. Finally, Morgan Stanley increased its stake in TE Connectivity by 56.5% in the 4th quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock valued at $409,818,000 after buying an additional 1,289,023 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEL. Stifel Nicolaus upped their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Truist Financial boosted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Robert W. Baird boosted their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $142.98 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The firm has a fifty day moving average price of $142.73 and a two-hundred day moving average price of $135.06. The company has a market cap of $44.44 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm earned $1.53 EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is 22.39%.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.