O Shaughnessy Asset Management LLC Makes New $4.93 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

O Shaughnessy Asset Management LLC bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,454 shares of the electronics maker's stock, valued at approximately $4,926,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its holdings in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock valued at $36,732,000 after acquiring an additional 9,670 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in TE Connectivity in the fourth quarter valued at about $2,920,000. Meyer Handelman Co. lifted its position in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. abrdn plc acquired a new stake in TE Connectivity during the fourth quarter worth about $15,739,000. Finally, Truist Financial Corp increased its holdings in TE Connectivity by 32.8% in the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after buying an additional 31,991 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Citigroup upped their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TE Connectivity currently has an average rating of "Hold" and a consensus target price of $167.00.

TE Connectivity Trading Up 1.3 %

NYSE:TEL traded up $1.62 during mid-day trading on Monday, hitting $123.62. 3,531,726 shares of the company's stock were exchanged, compared to its average volume of 1,697,636. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $36.88 billion, a P/E ratio of 19.75, a PEG ratio of 2.11 and a beta of 1.25. The company has a 50 day simple moving average of $147.11 and a 200-day simple moving average of $147.88.

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

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

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.