Geode Capital Management LLC Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Geode Capital Management LLC increased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,015,210 shares of the electronics maker's stock after purchasing an additional 33,340 shares during the quarter. Geode Capital Management LLC owned 2.02% of TE Connectivity worth $857,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity in the fourth quarter worth $26,000. SRS Capital Advisors Inc. boosted its position in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new stake in TE Connectivity in the fourth quarter worth $43,000. Golden State Wealth Management LLC bought a new position in shares of TE Connectivity in the 4th quarter worth about $44,000. Finally, Hilltop National Bank purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $55,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TEL has been the subject of several recent analyst reports. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $167.00.

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Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on 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 owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by insiders.

TE Connectivity Price Performance

TE Connectivity stock traded up $0.81 during mid-day trading on Monday, reaching $122.81. 1,182,136 shares of the company's stock traded hands, compared to its average volume of 1,688,874. TE Connectivity Ltd. has a 12-month low of $114.83 and a 12-month 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 stock has a 50 day moving average of $147.64 and a two-hundred day moving average of $148.07. The company has a market cap of $36.64 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 2.31%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 45.37%.

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.