6,723 Shares in TE Connectivity Ltd. (NYSE:TEL) Purchased by Freedom Investment Management Inc.

Freedom Investment Management Inc. acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,723 shares of the electronics maker's stock, valued at approximately $961,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC grew its position in shares of TE Connectivity by 14.8% during the 3rd quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker's stock worth $762,000 after purchasing an additional 652 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in TE Connectivity by 286.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker's stock valued at $2,534,000 after acquiring an additional 12,444 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of TE Connectivity by 24.5% during the 3rd quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker's stock worth $3,341,000 after purchasing an additional 4,359 shares in the last quarter. Franklin Resources Inc. raised its stake in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in TE Connectivity by 1.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 12,458 shares of the electronics maker's stock worth $1,859,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Stock Up 1.7 %

Shares of NYSE:TEL traded up $2.32 during trading on Wednesday, reaching $135.77. 3,325,136 shares of the stock were exchanged, compared to its average volume of 1,714,813. The firm has a market cap of $40.51 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The stock has a fifty day moving average of $142.18 and a two-hundred day moving average of $146.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is presently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TEL. Truist Financial reduced their price target on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Bank of America increased 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. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Robert W. Baird decreased their price objective on shares of TE Connectivity from $150.00 to $147.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on TE Connectivity from $169.00 to $146.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $156.90.

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.