Horizon Investments LLC Has $1.30 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Horizon Investments LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 31.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,057 shares of the electronics maker's stock after selling 4,066 shares during the period. Horizon Investments LLC's holdings in TE Connectivity were worth $1,295,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its position in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after purchasing an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock worth $29,322,000 after buying an additional 23,755 shares in the last quarter. Meyer Handelman Co. increased its position in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after acquiring an additional 9,175 shares during the period. Central Pacific Bank Trust Division bought a new stake in TE Connectivity during the 4th quarter valued at $2,920,000. Finally, abrdn plc bought a new position in shares of TE Connectivity in the fourth quarter worth $15,739,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 2.0 %

TEL stock traded up $2.87 during midday trading on Monday, reaching $149.04. The company had a trading volume of 1,802,132 shares, compared to its average volume of 1,579,467. The company has a 50 day moving average of $148.91 and a two-hundred day moving average of $148.34. The company has a market capitalization of $44.47 billion, a P/E ratio of 23.81, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year 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.

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TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) 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 business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $1.84 earnings per share. TE Connectivity's quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued 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 yield of 1.91%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is currently 45.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TEL shares. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research 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. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. 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, TE Connectivity has an average rating of "Hold" and an average target price of $167.00.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the 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. This represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

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.