KLP Kapitalforvaltning AS bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 105,733 shares of the electronics maker's stock, valued at approximately $15,159,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. increased its holdings in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity in the 4th quarter valued at approximately $55,000. Institutional investors own 91.43% of the company's stock.
Insider Activity at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on TEL. Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Finally, Truist Financial lowered their target price on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Hold" and a consensus price target of $167.00.
Read Our Latest Stock Report on TE Connectivity
TE Connectivity Stock Down 1.4 %
NYSE TEL traded down $2.10 during trading on Thursday, reaching $147.65. 584,995 shares of the company's stock were exchanged, compared to its average volume of 1,581,690. The company has a 50 day moving average price of $149.34 and a two-hundred day moving average price of $148.41. The stock has a market cap of $44.05 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm's revenue was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.92%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is currently 45.37%.
TE Connectivity Company Profile
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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.
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