Orion Portfolio Solutions LLC Acquires 4,888 Shares of TE Connectivity Ltd. (NYSE:TEL)

Orion Portfolio Solutions LLC boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 11.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,828 shares of the electronics maker’s stock after purchasing an additional 4,888 shares during the period. Orion Portfolio Solutions LLC’s holdings in TE Connectivity were worth $6,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank acquired a new position in shares of TE Connectivity in the fourth quarter valued at $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

TE Connectivity stock opened at $142.04 on Friday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market cap of $42.38 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The business’s fifty day moving average is $149.32 and its two-hundred day moving average is $148.41.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Truist Financial decreased their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $167.00.

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.