JPMorgan Chase & Co. Raises Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,664,096 shares of the electronics maker's stock after acquiring an additional 316,849 shares during the period. JPMorgan Chase & Co. owned about 0.56% of TE Connectivity worth $237,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TEL. Vanguard Group Inc. increased its position in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares in the last quarter. State Street Corp boosted its stake in shares of TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after buying an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock valued at $536,083,000 after buying an additional 488,680 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of 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 buying an additional 694,917 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

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Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred 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 sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Trading Down 6.2 %

TEL stock traded down $8.06 during midday trading on Friday, reaching $121.92. 4,119,498 shares of the company's stock traded hands, compared to its average volume of 1,690,300. TE Connectivity Ltd. has a fifty-two week low of $120.99 and a fifty-two week high of $159.98. The business has a 50-day moving average price of $147.64 and a two-hundred day moving average price of $148.05. The company has a market capitalization of $36.38 billion, a P/E ratio of 19.48, a PEG ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results 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 net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is presently 45.37%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TEL shares. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. 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. Finally, Truist Financial decreased their target price on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.