National Bank of Canada FI Buys 232,729 Shares of TE Connectivity Ltd. (NYSE:TEL)

National Bank of Canada FI boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4,246.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 238,209 shares of the electronics maker's stock after purchasing an additional 232,729 shares during the period. National Bank of Canada FI owned 0.08% of TE Connectivity worth $34,057,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company's stock.

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Wall Street Analyst Weigh In

TEL has been the topic of several research reports. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. 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 research report on Thursday, January 23rd. Robert W. Baird upped their target price 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 raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Finally, Truist Financial lowered their target price 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Stock Performance

Shares of TEL traded up $0.81 during mid-day trading on Monday, hitting $122.81. The stock had a trading volume of 1,182,136 shares, compared to its average volume of 1,688,874. The business has a fifty day moving average price of $147.64 and a 200-day moving average price of $148.07. TE Connectivity Ltd. has a 52 week low of $114.83 and a 52 week high of $159.98. The firm has a market cap of $36.64 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 announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. 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 prior year, the company posted $1.84 EPS. TE Connectivity's 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 EPS for the current year.

TE Connectivity Increases Dividend

The company 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 represents a $2.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is 45.37%.

TE Connectivity 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.