7,326 Shares in TE Connectivity Ltd. (NYSE:TEL) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,326 shares of the electronics maker's stock, valued at approximately $1,047,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Modera Wealth Management LLC raised its position in TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock valued at $409,000 after purchasing an additional 78 shares during the period. King Luther Capital Management Corp raised its position in TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock valued at $2,002,000 after purchasing an additional 83 shares during the period. Ascent Wealth Partners LLC raised its position in TE Connectivity by 1.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock valued at $1,231,000 after purchasing an additional 85 shares during the period. Moors & Cabot Inc. raised its position in TE Connectivity by 6.0% in the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock valued at $240,000 after purchasing an additional 95 shares during the period. Finally, Metis Global Partners LLC increased its position in shares of TE Connectivity by 1.0% during the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker's stock worth $1,475,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Truist Financial cut their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Stock Performance

TE Connectivity stock traded up $0.94 during mid-day trading on Wednesday, reaching $147.80. The company had a trading volume of 2,100,766 shares, compared to its average volume of 1,576,832. The firm has a market cap of $44.10 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $148.67 and a 200-day moving average of $148.40. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted 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 firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 EPS. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed 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 represents a $2.84 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is presently 45.37%.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

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.