Candelo Capital Management LP Takes $7.66 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Candelo Capital Management LP bought a new position in shares of TE Connectivity Ltd. (NYSE:TELFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 54,483 shares of the electronics maker’s stock, valued at approximately $7,655,000. TE Connectivity makes up approximately 6.0% of Candelo Capital Management LP’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its holdings in shares of TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 91 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth $30,000. Crewe Advisors LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $33,000. Jones Financial Companies Lllp raised its holdings in shares of 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 buying an additional 190 shares during the last quarter. Finally, Sachetta LLC acquired a new position in TE Connectivity during the 4th quarter worth about $34,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 0.1 %

Shares of NYSE:TEL traded up $0.16 during mid-day trading on Tuesday, reaching $151.85. The stock had a trading volume of 993,920 shares, compared to its average volume of 2,074,262. The firm has a market cap of $46.50 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.23 and a beta of 1.36. The firm has a 50 day simple moving average of $143.65 and a two-hundred day simple moving average of $139.23. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $152.31.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts predict that TE Connectivity Ltd. will post 7.5 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.71%. TE Connectivity’s dividend payout ratio (DPR) is currently 21.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in 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. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com began coverage on TE Connectivity in a research report on Thursday, May 16th. They set a “buy” rating for the company. Stifel Nicolaus raised their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $153.89.

Read Our Latest Stock Analysis on TEL

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by company insiders.

About TE Connectivity

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TELFree Report).

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.