Cerity Partners LLC Purchases 7,791 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cerity Partners LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 98.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,667 shares of the electronics maker’s stock after acquiring an additional 7,791 shares during the quarter. Cerity Partners LLC’s holdings in TE Connectivity were worth $2,202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TEL. Financial Counselors Inc. lifted its stake in TE Connectivity by 1.2% in the fourth quarter. Financial Counselors Inc. now owns 147,752 shares of the electronics maker’s stock valued at $20,759,000 after purchasing an additional 1,770 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of TE Connectivity by 1.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after acquiring an additional 51,866 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of TE Connectivity by 60.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,406 shares of the electronics maker’s stock worth $1,040,000 after acquiring an additional 2,781 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of TE Connectivity by 35.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 77,490 shares of the electronics maker’s stock worth $10,887,000 after acquiring an additional 20,407 shares in the last quarter. Finally, Confluence Wealth Services Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter worth $206,000. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TEL shares. JPMorgan Chase & Co. increased their target price on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com started coverage on TE Connectivity in a research report on Sunday, April 14th. They set a “buy” rating on the stock. Robert W. Baird upped their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Citigroup started coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Activity at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is owned by insiders.

TE Connectivity Stock Up 0.0 %

TEL opened at $140.55 on Friday. The stock has a market cap of $43.68 billion, a PE ratio of 13.33, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The business’s fifty day simple moving average is $142.65 and its 200 day simple moving average is $135.52.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 earnings per share. As a group, research analysts expect that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.85%. TE Connectivity’s dividend payout ratio is presently 22.39%.

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.