Polymer Capital Management HK LTD Acquires Shares of 6,600 TE Connectivity Ltd. (NYSE:TEL)

Polymer Capital Management HK LTD bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,600 shares of the electronics maker's stock, valued at approximately $944,000.

A number of other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $909,598,000. Vanguard Group Inc. lifted its position in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Norges Bank purchased a new position in TE Connectivity during the fourth quarter worth $508,199,000. Clearbridge Investments LLC increased its position in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after acquiring an additional 1,702,825 shares during the last quarter. Finally, Amundi purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $159,992,000. Institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on TEL. UBS Group cut their price target on shares of TE Connectivity from $188.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday. Truist Financial reduced their price target on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" 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 target price for the company in a research report on Thursday, January 23rd. Finally, Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, TE Connectivity has an average rating of "Hold" and a consensus price target of $163.60.

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TE Connectivity Stock Up 0.4 %

Shares of NYSE TEL traded up $0.50 during midday trading on Friday, reaching $127.85. 2,465,385 shares of the company's stock traded hands, compared to its average volume of 1,711,520. The company has a market cap of $38.14 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock's 50 day simple moving average is $144.78 and its 200-day simple moving average is $147.05.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 EPS. On average, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared 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. This represents a $2.84 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is presently 45.37%.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04 % 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. Corporate insiders own 0.90% of the company's stock.

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.