4,450 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Choate Investment Advisors

Choate Investment Advisors bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,450 shares of the electronics maker's stock, valued at approximately $636,000.

Other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA grew its stake 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 worth $29,322,000 after acquiring an additional 23,755 shares in the last quarter. Meyer Handelman Co. grew its stake in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after acquiring an additional 9,175 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $2,920,000. Finally, abrdn plc bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $15,739,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

TE Connectivity stock traded down $1.47 during mid-day trading on Thursday, hitting $146.29. 1,923,673 shares of the company's stock traded hands, compared to its average volume of 1,575,828. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two 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 has a market cap of $43.65 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.11 and a beta of 1.32. The firm has a 50 day simple moving average of $148.75 and a two-hundred day simple moving average of $148.40.

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

TE Connectivity Increases Dividend

The company 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 dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is currently 45.37%.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was 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. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TEL shares. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Bank of America raised their target price on shares of 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 raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Truist Financial decreased their target price on shares of 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $167.00.

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.