Choate Investment Advisors Takes $636,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Choate Investment Advisors purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,450 shares of the electronics maker’s stock, valued at approximately $636,000.

Other large investors have also bought and sold shares of the company. Assetmark Inc. raised its holdings in TE Connectivity by 11.9% during the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock valued at $342,000 after buying an additional 241 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of TE Connectivity by 17.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock worth $300,000 after purchasing an additional 288 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of TE Connectivity by 0.8% during the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock worth $22,167,000 after purchasing an additional 1,154 shares during the period. Huntington National Bank increased its holdings in TE Connectivity by 5.6% during the 3rd quarter. Huntington National Bank now owns 3,870 shares of the electronics maker’s stock valued at $585,000 after purchasing an additional 204 shares during the period. Finally, Metis Global Partners LLC raised its position in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 3.5 %

Shares of NYSE:TEL opened at $146.22 on Monday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The stock has a market capitalization of $43.63 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.11 and a beta of 1.32. The stock has a fifty day simple moving average of $148.53 and a two-hundred day simple moving average of $148.48. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for 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%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.84 EPS. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a positive change 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 payout ratio is presently 41.53%.

Wall Street Analyst Weigh In

TEL has been the topic of several research analyst reports. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup increased their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.00.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

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.