Burling Wealth Partners LLC Invests $1.13 Million in TE Connectivity Ltd. (NYSE:TEL)

Burling Wealth Partners LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,869 shares of the electronics maker's stock, valued at approximately $1,125,000.

Several other large investors have also recently bought and sold shares of TEL. Vanguard Group Inc. lifted its stake in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the period. Wellington Management Group LLP acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $909,598,000. Geode Capital Management LLC grew its stake in shares of TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after purchasing an additional 33,340 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after acquiring an additional 1,702,825 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of TE Connectivity by 15.0% in the 4th 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 purchasing an additional 488,680 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Down 0.1 %

TEL stock traded down $0.12 during midday trading on Tuesday, hitting $144.78. The company's stock had a trading volume of 418,032 shares, compared to its average volume of 1,680,150. The stock has a market capitalization of $43.20 billion, a P/E ratio of 23.11, a PEG ratio of 2.11 and a beta of 1.25. The company's fifty day moving average price is $141.23 and its 200 day moving average price is $146.05. 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 twelve month low of $116.30 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 EPS. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared 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. 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 1.96%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. UBS Group restated a "buy" rating and set a $163.00 price target (up from $155.00) on shares of TE Connectivity in a research report on Thursday. JPMorgan Chase & Co. increased their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Robert W. Baird lifted their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Truist Financial lowered their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction 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 sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.