HM Payson & Co. Has $498,000 Stock Position in TE Connectivity Ltd. (NYSE:TEL)

HM Payson & Co. lifted its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,431 shares of the electronics maker’s stock after purchasing an additional 103 shares during the quarter. HM Payson & Co.’s holdings in TE Connectivity were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Financial Partners Inc acquired a new stake in TE Connectivity during the 4th quarter worth about $214,000. Ballentine Partners LLC boosted its position in TE Connectivity by 37.9% during the 4th quarter. Ballentine Partners LLC now owns 3,496 shares of the electronics maker’s stock worth $491,000 after acquiring an additional 960 shares during the period. Asset Management One Co. Ltd. boosted its position in TE Connectivity by 18.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 167,814 shares of the electronics maker’s stock worth $23,674,000 after acquiring an additional 25,717 shares during the period. Boston Trust Walden Corp boosted its position in TE Connectivity by 6.1% during the 4th quarter. Boston Trust Walden Corp now owns 384,804 shares of the electronics maker’s stock worth $54,065,000 after acquiring an additional 22,031 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in TE Connectivity during the 4th quarter worth about $10,759,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock traded down $4.91 during trading on Friday, reaching $145.40. The company had a trading volume of 1,980,480 shares, compared to its average volume of 2,001,858. The firm’s 50 day simple moving average is $151.29 and its two-hundred day simple moving average is $145.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The company has a market capitalization of $44.19 billion, a PE ratio of 13.30, a PEG ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 EPS. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on TEL shares. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Bank of America raised their price target on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company cut their price target on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $158.45.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on 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 approximately $3,892,763.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction that occurred on 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 approximately $3,892,763.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now directly owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders have sold a total of 76,363 shares of company stock valued at $11,791,461 in the last three months. Company insiders own 0.86% of the company’s stock.

TE Connectivity 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.