Orion Portfolio Solutions LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,828 shares of the electronics maker's stock after acquiring an additional 4,888 shares during the quarter. Orion Portfolio Solutions LLC's holdings in TE Connectivity were worth $6,981,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank acquired a new position in TE Connectivity during the 4th quarter worth $55,000. 91.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was 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 of the company's stock, valued at $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 available through the SEC website. 0.90% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on TEL. 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. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note 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, 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. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $167.00.
Check Out Our Latest Report on TEL
TE Connectivity Trading Down 7.3 %
Shares of TEL stock 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 1,672,099. The firm has a market cap of $39.36 billion, a P/E ratio of 21.07, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a twelve month low of $131.35 and a twelve month high of $159.98. 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 company has a fifty day moving average price of $148.83 and a two-hundred day moving average price of $148.34.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company earned $1.84 earnings per share. The company's revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts forecast 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. Stockholders of record on Wednesday, May 21st will be given 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 dividend yield of 2.15%. TE Connectivity's dividend payout ratio is currently 45.37%.
About TE Connectivity
(
Free Report)
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.
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