Frank Rimerman Advisors LLC Makes New $269,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

Frank Rimerman Advisors LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,880 shares of the electronics maker's stock, valued at approximately $269,000.

A number of other hedge funds also recently modified their holdings of the stock. LBP AM SA raised its stake in TE Connectivity by 1.1% in the 4th quarter. LBP AM SA now owns 37,054 shares of the electronics maker's stock valued at $5,298,000 after acquiring an additional 418 shares during the period. Madison Investment Advisors LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth about $16,705,000. Commonwealth Equity Services LLC raised its position in shares of TE Connectivity by 6.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,825 shares of the electronics maker's stock valued at $2,691,000 after purchasing an additional 1,078 shares during the period. Impact Capital Partners LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $762,000. Finally, Avantax Advisory Services Inc. boosted its holdings in TE Connectivity by 12.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 10,567 shares of the electronics maker's stock worth $1,511,000 after buying an additional 1,183 shares during the period. Institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

Shares of NYSE:TEL traded down $0.19 during trading on Friday, reaching $146.10. The company had a trading volume of 4,288,307 shares, compared to its average volume of 1,585,615. 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 stock has a market capitalization of $43.59 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a fifty day moving average of $148.80 and a two-hundred day moving average of $148.38.

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

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is presently 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent research reports. Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Robert W. Baird increased their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $167.00.

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.