Teacher Retirement System of Texas lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 452,067 shares of the electronics maker's stock after selling 35,532 shares during the quarter. Teacher Retirement System of Texas owned 0.15% of TE Connectivity worth $64,632,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position 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 worth $1,940,615,000 after acquiring an additional 268,837 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 lifted its stake in shares of TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock valued at $536,083,000 after purchasing an additional 488,680 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in TE Connectivity by 26.0% during 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 in the last quarter. Finally, Franklin Resources Inc. grew its position in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after buying an additional 712,228 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.
TE Connectivity Trading Up 2.0 %
TE Connectivity stock traded up $2.87 during trading on Monday, reaching $149.04. The company had a trading volume of 1,802,132 shares, compared to its average volume of 1,579,467. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock's 50 day moving average price is $148.91 and its two-hundred day moving average price is $148.34. The firm has a market capitalization of $44.47 billion, a price-to-earnings ratio of 23.81, 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 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business 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 firm posted $1.84 EPS. The business's revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal 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 given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. 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 the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on TEL. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Truist Financial dropped their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $167.00.
View Our Latest Stock Report on TE Connectivity
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.
Further Reading
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
