Cibc World Markets Corp Has $6.78 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Cibc World Markets Corp grew its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,425 shares of the electronics maker's stock after purchasing an additional 6,095 shares during the period. Cibc World Markets Corp's holdings in TE Connectivity were worth $6,780,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock valued at $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after purchasing an additional 23,755 shares in the last quarter. Meyer Handelman Co. lifted its holdings in shares of TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after purchasing an additional 9,175 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $2,920,000. Finally, abrdn plc acquired a new position in shares of TE Connectivity in the fourth quarter worth $15,739,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded down $0.19 during midday trading on Friday, hitting $146.10. The company's stock had a trading volume of 4,288,307 shares, compared to its average volume of 1,578,365. The stock has a market capitalization of $43.59 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.11 and a beta of 1.32. The stock's 50 day simple moving average is $148.91 and its 200 day simple moving average is $148.33. 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 quick ratio of 1.10 and a current ratio of 1.68.

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TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $1.84 earnings per share. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current 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 paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is 45.37%.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of research reports. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Truist Financial dropped 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. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company upped 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 note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TE Connectivity has an average rating of "Hold" and a consensus target price of $167.00.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The shares were 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 owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

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.