Sei Investments Co. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Sei Investments Co. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,699 shares of the electronics maker's stock after purchasing an additional 9,913 shares during the period. Sei Investments Co. owned about 0.11% of TE Connectivity worth $45,278,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its position in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after buying an additional 9,670 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of TE Connectivity in the 4th quarter valued at $2,920,000. Glenmede Trust Co. NA grew its holdings in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock worth $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Meyer Handelman Co. increased its position in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after purchasing an additional 9,175 shares in the last quarter. Finally, abrdn plc bought a new position in TE Connectivity during the 4th quarter valued at about $15,739,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TEL shares. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Bank of America increased 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. Finally, 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 research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Price Performance

Shares of TE Connectivity stock traded down $5.08 during midday trading on Friday, hitting $142.04. 1,544,605 shares of the company traded hands, compared to its average volume of 1,673,597. The stock has a market cap of $42.38 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. 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 firm's fifty day moving average price is $149.41 and its 200-day moving average price is $148.40. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98.

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

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a positive change 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 dividend yield of 2.00%. TE Connectivity's dividend payout ratio is presently 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.