AQR Capital Management LLC Has $76.19 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

AQR Capital Management LLC grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 532,918 shares of the electronics maker's stock after purchasing an additional 36,583 shares during the quarter. AQR Capital Management LLC owned about 0.18% of TE Connectivity worth $76,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TEL. Central Pacific Bank Trust Division acquired a new position in shares of TE Connectivity during the 4th quarter worth about $2,920,000. Meyer Handelman Co. raised its stake in TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after purchasing an additional 9,175 shares during the last quarter. abrdn plc bought a new position in shares of TE Connectivity during the 4th quarter worth about $15,739,000. Truist Financial Corp raised its position in shares of TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after buying an additional 31,991 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its stake in shares of TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker's stock valued at $17,019,000 after buying an additional 4,913 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TEL shares. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a report on Thursday, April 24th. Wells Fargo & Company increased their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. Citigroup cut their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $159.50.

TE Connectivity Trading Down 0.6 %

Shares of NYSE TEL traded down $0.91 during midday trading on Tuesday, reaching $148.94. 254,116 shares of the stock were exchanged, compared to its average volume of 1,678,384. 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 Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The business has a 50-day simple moving average of $140.63 and a two-hundred day simple moving average of $146.06. The company has a market capitalization of $44.17 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.11 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the firm earned $1.86 EPS. TE Connectivity's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current 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 $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.91%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president now directly owns 24,625 shares in the company, valued at approximately $3,678,728.75. This represents a 54.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.