Evercore Wealth Management LLC Raises Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Evercore Wealth Management LLC grew its holdings in shares of TE Connectivity Ltd. (NYSE:TELFree Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,870 shares of the electronics maker’s stock after purchasing an additional 209 shares during the quarter. Evercore Wealth Management LLC’s holdings in TE Connectivity were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $693,985,000. Massachusetts Financial Services Co. MA grew its stake in shares of TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after acquiring an additional 111,340 shares during the period. Invesco Ltd. grew its stake in shares of TE Connectivity by 3.5% during the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after acquiring an additional 154,496 shares during the period. Impax Asset Management Group plc grew its stake in shares of TE Connectivity by 1.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after acquiring an additional 51,866 shares during the period. Finally, Morgan Stanley grew its stake in shares of TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $149.17 on Monday. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $152.79. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $145.83 and its 200-day simple moving average is $141.36. The company has a market capitalization of $45.68 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 2.20 and a beta of 1.35.

TE Connectivity (NYSE:TELGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The business’s revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 7.5 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEL. Robert W. Baird cut their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com started coverage on TE Connectivity in a research note on Sunday. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.89.

Check Out Our Latest Research Report on TEL

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the firm’s 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 completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

About TE Connectivity

(Free Report)

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.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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