TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,364,205 shares of the electronics maker's stock after buying an additional 561,435 shares during the period. Alliancebernstein L.P. owned approximately 0.46% of TE Connectivity worth $195,040,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Axiom Investors LLC DE raised its holdings in TE Connectivity by 11.9% during the fourth quarter. Axiom Investors LLC DE now owns 235,068 shares of the electronics maker's stock worth $33,608,000 after purchasing an additional 24,931 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $909,598,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $4,926,000. Clearbridge Investments LLC boosted its stake in shares of TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after buying an additional 1,702,825 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in TE Connectivity during the fourth quarter worth $7,890,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

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TE Connectivity Price Performance

TE Connectivity stock traded down $12.16 during midday trading on Thursday, reaching $130.14. 2,922,305 shares of the company were exchanged, compared to its average volume of 1,679,951. The firm's 50-day simple moving average is $148.29 and its 200-day simple moving average is $148.22. TE Connectivity Ltd. has a 1 year low of $130.00 and a 1 year high of $159.98. The company has a market capitalization of $38.83 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. The company's revenue was up .1% on a year-over-year basis. On average, analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS 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 paid a $0.71 dividend. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is presently 45.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEL shares. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, Truist Financial reduced their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company 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 stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $167.00.

About TE Connectivity

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.