Farther Finance Advisors LLC Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Farther Finance Advisors LLC grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 27.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,042 shares of the electronics maker’s stock after buying an additional 434 shares during the quarter. Farther Finance Advisors LLC’s holdings in TE Connectivity were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TEL. Wellington Management Group LLP purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $909,598,000. Vanguard Group Inc. lifted its position in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Norges Bank bought a new position in TE Connectivity during the fourth quarter valued at approximately $508,199,000. Clearbridge Investments LLC lifted its position in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the period. Finally, Amundi bought a new position in TE Connectivity in the fourth quarter worth approximately $159,992,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 1.1%

Shares of TEL opened at $163.75 on Wednesday. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $167.94. The company has a 50-day moving average of $151.78 and a 200 day moving average of $148.28. The firm has a market capitalization of $48.56 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is currently 62.42%.

Insider Activity

In related news, EVP John S. Jenkins sold 30,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at approximately $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the transaction, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at approximately $7,244,532.63. This trade represents a 53.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock valued at $27,369,059 in the last ninety days. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Thursday, April 24th. UBS Group raised their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Truist Financial decreased their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Robert W. Baird raised their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.50.

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.