D. E. Shaw & Co. Inc. Has $108.38 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

D. E. Shaw & Co. Inc. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 24.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 758,062 shares of the electronics maker's stock after acquiring an additional 146,837 shares during the period. D. E. Shaw & Co. Inc. owned about 0.25% of TE Connectivity worth $108,380,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meyer Handelman Co. lifted its position in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after acquiring an additional 9,175 shares during the last quarter. abrdn plc acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $15,739,000. Truist Financial Corp grew its position in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after purchasing an additional 31,991 shares during the last quarter. Carnegie Investment Counsel grew its position 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 purchasing an additional 4,913 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $237,000. Institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

TEL has been the topic of several research reports. Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. UBS Group reiterated a "buy" rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Citigroup lowered their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company boosted their price target on TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.50.

TE Connectivity Price Performance

TEL traded up $1.49 on Tuesday, reaching $162.47. The stock had a trading volume of 1,715,155 shares, compared to its average volume of 1,691,017. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $163.36. The firm has a 50-day moving average of $140.80 and a 200-day moving average of $146.26. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $48.18 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations 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 prior year, the firm posted $1.86 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a boost 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 dividend yield of 1.75%. TE Connectivity's dividend payout ratio is presently 62.42%.

Insider Activity

In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Aaron Kyle Stucki sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, May 12th. The stock was 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 approximately $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. Over the last quarter, insiders sold 154,275 shares of company stock valued at $23,740,419. Company 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.