Stock Yards Bank & Trust Co. Acquires New Holdings in TE Connectivity Ltd. (NYSE:TEL)

Stock Yards Bank & Trust Co. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,732 shares of the electronics maker’s stock, valued at approximately $243,000.

A number of other institutional investors have also made changes to their positions in TEL. Jones Financial Companies Lllp raised its stake in shares of TE Connectivity by 358.5% in the 3rd 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 in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of TE Connectivity in the 4th quarter valued at approximately $30,000. Arlington Trust Co LLC bought a new position in shares of TE Connectivity in the 3rd quarter valued at approximately $35,000. Wetzel Investment Advisors Inc. bought a new position in shares of TE Connectivity in the 4th quarter valued at approximately $45,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TEL shares. Truist Financial raised their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. JPMorgan Chase & Co. lifted their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target on the stock. Finally, StockNews.com initiated coverage on TE Connectivity in a research report on Monday. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

TE Connectivity Price Performance

NYSE:TEL opened at $140.00 on Thursday. The company has a 50-day moving average of $142.65 and a 200-day moving average of $136.02. The company has a market capitalization of $43.51 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 2.04 and a beta of 1.39. 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 0.27, a quick ratio of 1.16 and a current ratio of 1.86.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm earned $1.53 EPS. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

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.