Congress Wealth Management LLC DE Sells 17,542 Shares of TE Connectivity Ltd. (NYSE:TEL)

Congress Wealth Management LLC DE decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,291 shares of the electronics maker’s stock after selling 17,542 shares during the period. Congress Wealth Management LLC DE’s holdings in TE Connectivity were worth $15,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of TE Connectivity during the 4th quarter valued at approximately $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity during the 4th quarter worth approximately $55,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 2.0 %

Shares of TEL opened at $149.04 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock has a market capitalization of $44.47 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The business’s 50 day simple moving average is $149.07 and its 200-day simple moving average is $148.35.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue was up .1% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid 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 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Truist Financial lowered their price objective 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 target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

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.