Sei Investments Co. Acquires 9,913 Shares of TE Connectivity Ltd. (NYSE:TEL)

Sei Investments Co. increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,699 shares of the electronics maker’s stock after buying an additional 9,913 shares during the period. Sei Investments Co. owned 0.11% of TE Connectivity worth $45,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in TE Connectivity during the 4th quarter worth $26,000. SRS Capital Advisors Inc. increased its position in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity in the fourth quarter worth $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the fourth quarter worth about $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth about $55,000. 91.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TEL has been the subject of several analyst reports. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Citigroup upped their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Stock Performance

Shares of TEL stock opened at $149.04 on Tuesday. The business’s 50-day moving average price is $149.07 and its 200-day moving average price is $148.35. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $44.47 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping 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 net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

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.