Allianz SE Makes New $1.69 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Allianz SE acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,822 shares of the electronics maker's stock, valued at approximately $1,689,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEL. Allstate Corp acquired a new stake in TE Connectivity during the 4th quarter valued at $1,226,000. DnB Asset Management AS increased its stake in shares of TE Connectivity by 2.2% in the fourth quarter. DnB Asset Management AS now owns 57,525 shares of the electronics maker's stock valued at $8,224,000 after buying an additional 1,231 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in TE Connectivity by 11.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 48,828 shares of the electronics maker's stock worth $6,981,000 after acquiring an additional 4,888 shares during the last quarter. Pictet Asset Management Holding SA increased its position in TE Connectivity by 6.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 351,791 shares of the electronics maker's stock valued at $50,296,000 after acquiring an additional 20,068 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of TE Connectivity by 42.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 4,225 shares of the electronics maker's stock valued at $604,000 after acquiring an additional 1,264 shares during the period. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm'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 completion of the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.90% of the company's stock.

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TE Connectivity Stock Performance

Shares of TE Connectivity stock traded down $9.80 during trading on Thursday, reaching $132.49. The company's stock had a trading volume of 925,703 shares, compared to its average volume of 1,696,051. TE Connectivity Ltd. has a 52 week low of $131.34 and a 52 week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business's 50-day moving average price is $148.83 and its 200-day moving average price is $148.34. The firm has a market cap of $39.53 billion, a PE ratio of 21.16, a P/E/G ratio of 2.11 and a beta of 1.25.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

Analyst Ratings Changes

Several analysts have weighed in on TEL shares. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on 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 decreased their price objective 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. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Company 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.