Sciencast Management LP Acquires 11,699 Shares of TE Connectivity Ltd. (NYSE:TEL)

Sciencast Management LP increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 161.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,930 shares of the electronics maker's stock after acquiring an additional 11,699 shares during the quarter. Sciencast Management LP's holdings in TE Connectivity were worth $2,706,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. grew its stake in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity in the 4th quarter valued at about $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter valued at about $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth approximately $55,000. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

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TE Connectivity Price Performance

Shares of TEL stock traded down $1.11 during trading hours on Wednesday, reaching $149.69. The company's stock had a trading volume of 2,166,507 shares, compared to its average volume of 1,585,363. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm's 50 day simple moving average is $149.22 and its 200-day simple moving average is $148.40. 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 company has a market capitalization of $44.66 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.11 and a beta of 1.32.

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. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $1.84 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. 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 1.90%. TE Connectivity's dividend payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEL. Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" 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. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a research 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.