36,171 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 36,171 shares of the electronics maker's stock, valued at approximately $5,171,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Nordea Investment Management AB acquired a new stake in TE Connectivity during the fourth quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its position in TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker's stock valued at $107,738,000 after purchasing an additional 722,565 shares during the last quarter. Franklin Resources Inc. boosted its position in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after purchasing an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in 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 purchasing an additional 694,917 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in TE Connectivity by 15.0% during 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 purchasing an additional 488,680 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

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TE Connectivity Price Performance

NYSE TEL traded down $1.47 during trading on Thursday, reaching $146.29. 1,923,489 shares of the company traded hands, compared to its average volume of 1,575,828. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock's 50 day moving average price is $148.75 and its two-hundred day moving average price is $148.40. The company has a market cap of $43.65 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results 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 business had revenue of $3.84 billion for 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%. TE Connectivity's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. As a group, analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.94%. TE Connectivity's dividend payout ratio is currently 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEL. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. Finally, Robert W. Baird raised 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. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.