11,999 Shares in TE Connectivity Ltd. (NYSE:TEL) Purchased by Optimize Financial Inc

Optimize Financial Inc purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,999 shares of the electronics maker's stock, valued at approximately $1,715,000. TE Connectivity accounts for approximately 1.3% of Optimize Financial Inc's holdings, making the stock its 22nd biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 acquiring an additional 4,029,596 shares during the period. Wellington Management Group LLP acquired a new stake in shares of TE Connectivity during the fourth quarter worth $909,598,000. Geode Capital Management LLC increased its holdings in TE Connectivity by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after purchasing an additional 33,340 shares during the last quarter. Clearbridge Investments LLC increased its holdings in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in 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 period. 91.43% of the stock is owned by institutional investors.

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TE Connectivity Stock Down 0.4 %

Shares of NYSE:TEL traded down $0.55 during trading on Tuesday, hitting $129.40. 1,811,043 shares of the company were exchanged, compared to its average volume of 1,714,053. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $144.12 and a two-hundred day moving average price of $146.77. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The stock has a market cap of $38.61 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.11 and a beta of 1.25.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. 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 2.19%. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TEL. Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price 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. Robert W. Baird cut their price target on shares of TE Connectivity from $150.00 to $147.00 and set an "outperform" rating on the stock in a research note on Tuesday. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Finally, UBS Group dropped their target price on TE Connectivity from $188.00 to $155.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $159.20.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The stock was 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 of the company's stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.

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.