Pictet Asset Management Holding SA Acquires 20,068 Shares of TE Connectivity Ltd. (NYSE:TEL)

Pictet Asset Management Holding SA boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,791 shares of the electronics maker's stock after acquiring an additional 20,068 shares during the quarter. Pictet Asset Management Holding SA owned 0.12% of TE Connectivity worth $50,296,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Norges Bank bought a new position in shares of TE Connectivity in the fourth quarter valued at about $508,199,000. Amundi acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $159,992,000. Nordea Investment Management AB bought a new stake in shares of TE Connectivity during the 4th quarter worth about $149,211,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker's stock valued at $107,738,000 after buying an additional 722,565 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TEL shares. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $167.00.

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Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction 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 sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Down 7.3 %

NYSE:TEL traded down $10.38 on Thursday, hitting $131.91. The stock had a trading volume of 756,848 shares, compared to its average volume of 1,694,604. The company has a market cap of $39.36 billion, a PE ratio of 21.07, a P/E/G ratio of 2.11 and a beta of 1.25. The business's fifty day moving average is $148.83 and its 200 day moving average is $148.34. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52 week low of $131.34 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS 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 paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. 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 2.15%. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

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.