Frank Rimerman Advisors LLC Takes $269,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Frank Rimerman Advisors LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,880 shares of the electronics maker’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its stake in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after acquiring an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA raised its stake in TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Meyer Handelman Co. raised its stake in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after acquiring an additional 9,175 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in TE Connectivity in the 4th quarter worth $2,920,000. Finally, abrdn plc purchased a new position in TE Connectivity in the 4th quarter worth $15,739,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.7 %

TEL stock opened at $146.88 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The stock has a market cap of $43.82 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.11 and a beta of 1.32. The business’s 50-day moving average is $148.60 and its 200 day moving average is $148.45.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the firm posted $1.84 EPS. TE Connectivity’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.93%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 45.37%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TEL has been the subject of a number of research analyst reports. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $167.00.

About TE Connectivity

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.