2,036 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by AGF Management Ltd.

AGF Management Ltd. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,036 shares of the electronics maker's stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TEL. Assetmark Inc. boosted its stake in shares of TE Connectivity by 11.9% in the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker's stock valued at $342,000 after buying an additional 241 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in shares of TE Connectivity by 17.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker's stock valued at $300,000 after buying an additional 288 shares during the period. Victory Capital Management Inc. lifted its stake in TE Connectivity by 0.8% during the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker's stock worth $22,167,000 after purchasing an additional 1,154 shares during the last quarter. Huntington National Bank lifted its stake in TE Connectivity by 5.6% during the third quarter. Huntington National Bank now owns 3,870 shares of the electronics maker's stock worth $585,000 after purchasing an additional 204 shares during the last quarter. Finally, KBC Group NV lifted its stake in TE Connectivity by 53.9% during the third quarter. KBC Group NV now owns 102,617 shares of the electronics maker's stock worth $15,495,000 after purchasing an additional 35,959 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

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Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company's stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TEL shares. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 23rd. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Truist Financial decreased their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Finally, Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $167.00.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded up $0.94 during trading on Wednesday, reaching $147.80. The company had a trading volume of 2,100,766 shares, compared to its average volume of 1,576,832. The firm has a market capitalization of $44.10 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock's fifty day moving average price is $148.67 and its 200 day moving average price is $148.40. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is presently 45.37%.

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.