Provence Wealth Management Group Acquires 152 Shares of TE Connectivity Ltd. (NYSE:TEL)

Provence Wealth Management Group raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,897 shares of the electronics maker’s stock after purchasing an additional 152 shares during the period. Provence Wealth Management Group’s holdings in TE Connectivity were worth $267,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC raised its position in shares of TE Connectivity by 12.7% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,241 shares of the electronics maker’s stock worth $315,000 after purchasing an additional 252 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of TE Connectivity by 39.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,692 shares of the electronics maker’s stock worth $378,000 after buying an additional 767 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $5,376,000. Natixis Advisors L.P. raised its holdings in TE Connectivity by 5.2% in the 4th quarter. Natixis Advisors L.P. now owns 118,318 shares of the electronics maker’s stock worth $16,622,000 after acquiring an additional 5,838 shares during the last quarter. Finally, Heritage Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter valued at approximately $1,584,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is owned by insiders.

TE Connectivity Stock Performance

TE Connectivity stock traded up $1.99 during midday trading on Friday, hitting $142.00. The stock had a trading volume of 1,197,854 shares, compared to its average volume of 2,325,435. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The company has a market capitalization of $43.48 billion, a PE ratio of 12.99, a P/E/G ratio of 2.06 and a beta of 1.36. The firm’s fifty day moving average is $142.46 and its two-hundred day moving average is $136.77.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the firm earned $1.65 EPS. The company’s revenue was down 4.6% on a year-over-year basis. On average, research analysts forecast that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Analyst Ratings Changes

Several research firms have recently weighed in on TEL. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Tuesday. They set a “buy” rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Robert W. Baird decreased their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $153.50.

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.