Axiom Investors LLC DE Acquires 24,931 Shares of TE Connectivity Ltd. (NYSE:TEL)

Axiom Investors LLC DE increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 235,068 shares of the electronics maker's stock after buying an additional 24,931 shares during the period. Axiom Investors LLC DE owned about 0.08% of TE Connectivity worth $33,608,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in TE Connectivity during the fourth quarter worth approximately $909,598,000. Vanguard Group Inc. boosted its holdings in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after buying an additional 4,029,596 shares in the last quarter. Norges Bank acquired a new stake in TE Connectivity during the 4th quarter worth $508,199,000. Clearbridge Investments LLC boosted its stake in 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 acquiring an additional 1,702,825 shares in the last quarter. Finally, Amundi purchased a new stake in shares of TE Connectivity in the 4th quarter valued at about $159,992,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

TE Connectivity stock traded down $5.35 during mid-day trading on Friday, reaching $124.64. The company's stock had a trading volume of 1,424,682 shares, compared to its average volume of 1,679,727. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $118.56 and a twelve month high of $159.98. The business has a 50 day moving average price of $148.29 and a 200-day moving average price of $148.22. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.11 and a beta of 1.25.

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TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during 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 quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 2.28%. TE Connectivity's dividend payout ratio is 45.37%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" 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 on the stock in a research report on Thursday, January 23rd. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Citigroup increased their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Seven research 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, the company presently has an average rating of "Hold" and a consensus target price 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.