Sagespring Wealth Partners LLC Acquires Shares of 2,560 TE Connectivity Ltd. (NYSE:TEL)

Sagespring Wealth Partners LLC bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,560 shares of the electronics maker’s stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of TE Connectivity during the 3rd quarter valued at $2,586,000. Anchor Investment Management LLC lifted its position in TE Connectivity by 14.8% during the third quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock worth $762,000 after purchasing an additional 652 shares during the period. Wilmington Savings Fund Society FSB grew its stake in TE Connectivity by 286.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker’s stock worth $2,534,000 after buying an additional 12,444 shares in the last quarter. Tidal Investments LLC increased its holdings in TE Connectivity by 24.5% in the 3rd quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker’s stock valued at $3,341,000 after buying an additional 4,359 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $129.40 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98. The firm has a market cap of $38.61 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The firm’s fifty day moving average is $144.12 and its 200-day moving average is $146.77.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent analyst reports. 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 note on Thursday, April 10th. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird lowered their target price on TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Hold” and a consensus target price of $159.20.

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.