KCM Investment Advisors LLC Cuts Stake in TE Connectivity Ltd. (NYSE:TEL)

KCM Investment Advisors LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,345 shares of the electronics maker’s stock after selling 319 shares during the quarter. KCM Investment Advisors LLC’s holdings in TE Connectivity were worth $1,622,000 at the end of the most recent reporting period.

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

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL stock opened at $121.92 on Friday. The stock has a 50 day moving average price of $147.64 and a 200 day moving average price of $148.05. TE Connectivity Ltd. has a 52-week low of $120.99 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market capitalization of $36.38 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is currently 45.37%.

Wall Street Analyst Weigh In

TEL has been the subject of a number of recent research reports. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Truist Financial reduced their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus 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.