Raymond James & Associates Has $65.85 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Raymond James & Associates lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 453,373 shares of the electronics maker’s stock after selling 202,501 shares during the period. Raymond James & Associates owned 0.15% of TE Connectivity worth $65,848,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. Lee Danner & Bass Inc. boosted its holdings in TE Connectivity by 2.5% during the 4th quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock worth $433,000 after acquiring an additional 74 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in TE Connectivity by 0.6% during the first quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 75 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its position in TE Connectivity by 3.2% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock worth $348,000 after purchasing an additional 78 shares in the last quarter. Perpetual Ltd increased its stake in TE Connectivity by 4.1% in the 1st quarter. Perpetual Ltd now owns 1,990 shares of the electronics maker’s stock valued at $289,000 after buying an additional 78 shares during the last quarter. Finally, Vista Investment Management lifted its position in shares of TE Connectivity by 0.7% during the 3rd quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock worth $1,479,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL stock traded up $1.99 during midday trading on Friday, reaching $142.00. 1,197,854 shares of the company’s stock traded hands, compared to its average volume of 2,325,435. The firm has a market capitalization of $43.48 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The company has a 50-day moving average price of $142.46 and a two-hundred day moving average price of $136.77. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

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

Insider Buying and Selling at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. StockNews.com began coverage on shares of TE Connectivity in a report on Tuesday. They issued a “buy” rating on the stock. Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Citigroup assumed coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.