Peapack Gladstone Financial Corp Has $17.54 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Peapack Gladstone Financial Corp raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,671 shares of the electronics maker’s stock after purchasing an additional 6,497 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in TE Connectivity were worth $17,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Benjamin Edwards Inc. raised its stake in TE Connectivity by 2,193.7% during the third quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker’s stock worth $329,000 after acquiring an additional 2,084 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of TE Connectivity by 28.5% during the 3rd quarter. HighTower Advisors LLC now owns 58,803 shares of the electronics maker’s stock valued at $8,873,000 after purchasing an additional 13,027 shares during the last quarter. Quantinno Capital Management LP increased its position in TE Connectivity by 25.4% during the 3rd quarter. Quantinno Capital Management LP now owns 22,382 shares of the electronics maker’s stock worth $3,379,000 after purchasing an additional 4,531 shares in the last quarter. SageView Advisory Group LLC lifted its stake in TE Connectivity by 151.8% in the 3rd quarter. SageView Advisory Group LLC now owns 4,563 shares of the electronics maker’s stock valued at $689,000 after purchasing an additional 2,751 shares during the last quarter. Finally, State Street Corp boosted its position in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 6.2 %

Shares of NYSE:TEL opened at $121.92 on Friday. The business’s 50-day moving average is $147.64 and its 200-day moving average is $148.05. TE Connectivity Ltd. has a 1 year low of $120.99 and a 1 year high of $159.98. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during 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%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.84 EPS. Equities research 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. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEL. Bank of America boosted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.