Royal London Asset Management Ltd. Has $108.16 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Royal London Asset Management Ltd. reduced its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 756,544 shares of the electronics maker's stock after selling 272,866 shares during the period. Royal London Asset Management Ltd. owned approximately 0.25% of TE Connectivity worth $108,163,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TEL. State Street Corp boosted its holdings in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Geode Capital Management LLC raised its position in shares of TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock valued at $899,681,000 after purchasing an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of TE Connectivity by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock worth $536,083,000 after buying an additional 488,680 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after buying an additional 694,917 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after acquiring an additional 712,228 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent analyst reports. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price objective on 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 decreased 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. Bank of America upped their price target 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, Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $167.00.

TE Connectivity Trading Up 2.0 %

NYSE TEL traded up $2.87 on Monday, hitting $149.04. 1,802,132 shares of the company were exchanged, compared to its average volume of 1,579,467. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company's 50 day moving average price is $148.91 and its 200-day moving average price is $148.34. The firm has a market capitalization of $44.47 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping 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 firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.84 EPS. The company's revenue was up .1% on a year-over-year basis. Analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's payout ratio is currently 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.