Pointe Capital Management LLC Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Pointe Capital Management LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,622 shares of the electronics maker’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $30,000. Wetzel Investment Advisors Inc. bought a new position in TE Connectivity during the 4th quarter valued at about $45,000. Exchange Traded Concepts LLC boosted its position in TE Connectivity by 176.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in TE Connectivity during the fourth quarter worth about $48,000. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TEL shares. Robert W. Baird reduced their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Citigroup began coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective on the stock. Truist Financial boosted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Stifel Nicolaus raised their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.50.

TE Connectivity Stock Up 1.4 %

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

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 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 analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted $1.65 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 7.51 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date 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 TE Connectivity stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.86% 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.