Grantham Mayo Van Otterloo & Co. LLC Has $9.75 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 24.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 68,179 shares of the electronics maker's stock after selling 21,657 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in TE Connectivity were worth $9,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. raised its holdings in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Trading Up 0.6 %

TEL traded up $0.80 during trading on Friday, reaching $128.15. The company had a trading volume of 580,189 shares, compared to its average volume of 1,702,741. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $159.98. The company has a market cap of $38.24 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.11 and a beta of 1.25. The firm's 50-day simple moving average is $145.12 and its 200 day simple moving average is $147.18.

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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 for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is currently 45.37%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. 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. 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 lowered their price objective 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. Finally, Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $163.60.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.