Benjamin Edwards Inc. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 113.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,648 shares of the electronics maker's stock after purchasing an additional 2,469 shares during the period. Benjamin Edwards Inc.'s holdings in TE Connectivity were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after buying an additional 592,072 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $47,736,000. Ancora Advisors LLC raised its stake in TE Connectivity by 150.0% during the 4th quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock valued at $71,000 after purchasing an additional 300 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of TE Connectivity by 47.6% during the fourth quarter. Aptus Capital Advisors LLC now owns 2,910 shares of the electronics maker's stock valued at $416,000 after buying an additional 938 shares in the last quarter. Finally, Wahed Invest LLC raised its position in TE Connectivity by 2.1% during the fourth quarter. Wahed Invest LLC now owns 7,559 shares of the electronics maker's stock valued at $1,081,000 after buying an additional 154 shares during the period. 91.43% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
TEL has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Citigroup reduced their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Truist Financial cut their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.50.
Read Our Latest Stock Analysis on TE Connectivity
TE Connectivity Trading Up 0.9%
TE Connectivity stock traded up $1.49 during mid-day trading on Tuesday, hitting $162.47. 1,715,155 shares of the company's stock were exchanged, compared to its average volume of 1,692,032. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $163.36. 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 firm has a market capitalization of $48.18 billion, a P/E ratio of 25.95, a PEG ratio of 2.11 and a beta of 1.24. The company's 50 day simple moving average is $140.80 and its 200-day simple moving average is $146.26.
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. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.75%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's payout ratio is presently 62.42%.
Insider Buying and Selling
In other news, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer now owns 45,503 shares of the company's stock, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 5,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $800,000.00. Following the completion of the sale, the insider now owns 23,646 shares of the company's stock, valued at $3,783,360. The trade was a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,275 shares of company stock valued at $23,740,419. 0.90% of the stock is owned by insiders.
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.
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