Thrivent Financial for Lutherans Has $5.45 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Thrivent Financial for Lutherans lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,023 shares of the electronics maker's stock after selling 4,599 shares during the period. Thrivent Financial for Lutherans' holdings in TE Connectivity were worth $5,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi purchased a new position in TE Connectivity during the 4th quarter worth approximately $159,992,000. Nordea Investment Management AB acquired a new position in TE Connectivity during the fourth quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker's stock worth $107,738,000 after acquiring an additional 722,565 shares in the last quarter. Franklin Resources Inc. boosted its position 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 worth $445,603,000 after acquiring an additional 712,228 shares during the period. Finally, EdgePoint Investment Group Inc. increased its holdings in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after purchasing an additional 694,917 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

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TE Connectivity Stock Performance

Shares of NYSE:TEL traded down $2.74 during midday trading on Thursday, hitting $147.00. The company's stock had a trading volume of 1,903,149 shares, compared to its average volume of 1,583,074. 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 simple moving average is $149.41 and its 200 day simple moving average is $148.40. The stock has a market capitalization of $43.86 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

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

TE Connectivity Increases Dividend

The business 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 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 yield of 1.93%. 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

A number of research analysts recently commented on TEL shares. Wells Fargo & Company boosted 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 report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Truist Financial cut 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. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's 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 completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company's stock.

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.