Vanguard Group Inc. Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Vanguard Group Inc. raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,378,995 shares of the electronics maker's stock after buying an additional 4,029,596 shares during the quarter. Vanguard Group Inc. owned about 10.85% of TE Connectivity worth $4,629,225,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TEL. State Street Corp increased its position in TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after buying an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 buying an additional 488,680 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of 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 valued at $508,481,000 after buying an additional 694,917 shares during the period. Finally, Franklin Resources Inc. boosted 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 acquiring an additional 712,228 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Remove Ads

TE Connectivity Trading Down 3.4 %

Shares of TEL stock traded down $5.08 during mid-day trading on Friday, reaching $142.04. The company's stock had a trading volume of 1,544,605 shares, compared to its average volume of 1,673,597. The company's 50 day simple moving average is $149.32 and its 200-day simple moving average is $148.38. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm has a market capitalization of $42.38 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last issued 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 company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, research 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. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.00%. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

Analysts Set New Price Targets

Several research analysts have weighed in on TEL shares. StockNews.com downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Citigroup upped their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Truist Financial decreased their target price on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a research report 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $167.00.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Company 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.