Boston Partners Reduces Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Boston Partners reduced its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,004,651 shares of the electronics maker's stock after selling 127,640 shares during the quarter. Boston Partners owned about 0.67% of TE Connectivity worth $286,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its holdings in TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after buying an additional 23,755 shares in the last quarter. Meyer Handelman Co. boosted its stake in TE Connectivity by 9.9% in the 4th 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 in the last quarter. Central Pacific Bank Trust Division purchased a new position in TE Connectivity in the 4th quarter worth about $2,920,000. Finally, abrdn plc bought a new position in TE Connectivity in the fourth quarter valued at about $15,739,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

Shares of TEL stock traded down $0.19 during trading hours on Friday, hitting $146.10. 4,288,307 shares of the company's stock were exchanged, compared to its average volume of 1,578,573. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. 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 50-day moving average is $148.91 and its 200-day moving average is $148.33. The stock has a market cap of $43.59 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

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TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data 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 business 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%. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business 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 1.94%. 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 is presently 45.37%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TEL. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Citigroup raised 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. HSBC raised 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. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Finally, 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. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $167.00.

Insider Activity at TE Connectivity

In other 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 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 trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

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.