111 Capital Takes Position in TE Connectivity Ltd. (NYSE:TEL)

111 Capital purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,293 shares of the electronics maker's stock, valued at approximately $757,000.

A number of other hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in TE Connectivity by 7.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 36,014 shares of the electronics maker's stock valued at $5,149,000 after purchasing an additional 2,498 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of TE Connectivity by 4.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 29,671 shares of the electronics maker's stock valued at $4,242,000 after acquiring an additional 1,237 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of TE Connectivity in the 4th quarter valued at $14,658,000. Siemens Fonds Invest GmbH purchased a new stake in shares of TE Connectivity in the 4th quarter valued at $602,000. Finally, Azzad Asset Management Inc. ADV boosted its holdings in shares of TE Connectivity by 2.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,891 shares of the electronics maker's stock valued at $2,701,000 after acquiring an additional 469 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEL. UBS Group upped their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday. Truist Financial lowered their price target on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $162.50.

TE Connectivity Price Performance

TEL traded down $1.56 during midday trading on Friday, hitting $159.99. 2,444,724 shares of the company traded hands, compared to its average volume of 1,708,562. 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 $47.44 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $164.11. The business has a 50 day simple moving average of $144.78 and a two-hundred day simple moving average of $147.20.

TE Connectivity (NYSE:TEL - Get Free Report) last posted 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. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.78%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares of the company's stock, valued at $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,062,559 over the last ninety days. Corporate 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.