Becker Capital Management Inc. Has $16.38 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Becker Capital Management Inc. trimmed its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,558 shares of the electronics maker's stock after selling 11,077 shares during the quarter. Becker Capital Management Inc.'s holdings in TE Connectivity were worth $16,378,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in TE Connectivity in the fourth quarter valued at about $909,598,000. Vanguard Group Inc. grew its stake in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Norges Bank bought a new position in shares of TE Connectivity in the 4th quarter worth $508,199,000. Clearbridge Investments LLC raised its holdings in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Finally, Amundi acquired a new position in TE Connectivity during the fourth quarter worth $159,992,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.3 %

TE Connectivity stock opened at $145.34 on Wednesday. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98. The firm has a market cap of $43.36 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $141.02 and a two-hundred day moving average of $146.04.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the firm posted $1.86 EPS. TE Connectivity's revenue was up 4.4% on a year-over-year basis. On average, analysts forecast 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. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is 62.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TEL. Truist Financial lowered their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Citigroup cut their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Robert W. Baird raised their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on 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 directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company's stock.

About TE Connectivity

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.

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