Heartland Advisors Inc. Has $4.39 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Heartland Advisors Inc. cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,668 shares of the electronics maker's stock after selling 6,439 shares during the period. Heartland Advisors Inc.'s holdings in TE Connectivity were worth $4,385,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. lifted its stake in 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 acquiring an additional 9,670 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in TE Connectivity in the 4th quarter valued at about $2,920,000. Meyer Handelman Co. grew its holdings in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. abrdn plc acquired a new position in TE Connectivity during the fourth quarter worth approximately $15,739,000. Finally, Truist Financial Corp lifted its position in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after buying an additional 31,991 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity 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 completion of the transaction, the insider now owns 25,976 shares of the company's stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company's stock.

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TE Connectivity Price Performance

NYSE TEL traded up $2.05 on Wednesday, hitting $142.75. 471,805 shares of the company's stock were exchanged, compared to its average volume of 1,671,769. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap of $42.59 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 2.11 and a beta of 1.25. The stock has a 50-day moving average of $149.08 and a 200-day moving average of $148.38.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating 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 the consensus estimate of $3.92 billion. During the same quarter last year, the business posted $1.84 EPS. TE Connectivity's revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is 45.37%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Truist Financial dropped their price objective 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. Finally, StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Company 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.