Sage Mountain Advisors LLC Buys New Holdings in TE Connectivity Ltd. (NYSE:TEL)

Sage Mountain Advisors LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,524 shares of the electronics maker’s stock, valued at approximately $214,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in TE Connectivity in the fourth quarter valued at approximately $10,759,000. Nordea Investment Management AB increased its stake in TE Connectivity by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after purchasing an additional 41,198 shares during the last quarter. SG Americas Securities LLC increased its stake in TE Connectivity by 518.3% in the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after purchasing an additional 130,515 shares during the last quarter. Patten Group Inc. purchased a new position in TE Connectivity in the fourth quarter valued at approximately $220,000. Finally, Ninety One North America Inc. increased its stake in TE Connectivity by 39.4% in the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after purchasing an additional 17,322 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by insiders.

TE Connectivity Stock Performance

NYSE:TEL opened at $143.14 on Wednesday. The firm’s fifty day moving average price is $142.71 and its 200 day moving average price is $136.00. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The firm has a market cap of $44.49 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the firm posted $1.53 EPS. TE Connectivity’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TEL. JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Truist Financial raised their target price 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. Robert W. Baird raised their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup began 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 on the stock. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.30.

About TE Connectivity

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.