Generali Asset Management SPA SGR Buys Shares of 44,054 TE Connectivity Ltd. (NYSE:TEL)

Generali Asset Management SPA SGR acquired a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 44,054 shares of the electronics maker's stock, valued at approximately $6,298,000.

A number of other large investors have also recently made changes to their positions in TEL. Amundi bought a new stake in TE Connectivity during the 4th quarter worth approximately $159,992,000. Nordea Investment Management AB bought a new stake in shares of TE Connectivity during the 4th quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of TE Connectivity by 2,330.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker's stock valued at $107,738,000 after buying an additional 722,565 shares in the last quarter. Franklin Resources Inc. increased its stake in TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after buying an additional 712,228 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after acquiring an additional 694,917 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Trading Down 0.1 %

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 1,578,573. The business's 50 day moving average is $148.91 and its two-hundred day moving average is $148.33. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $43.59 billion, a P/E 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 released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion during 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 business's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 45.37%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The sale 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 company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEL. Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Finally, Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.