Jefferies Financial Group Inc. grew its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2,334.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,500 shares of the electronics maker's stock after buying an additional 31,165 shares during the period. Jefferies Financial Group Inc.'s holdings in TE Connectivity were worth $4,647,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Wellington Management Group LLP bought a new position in shares of TE Connectivity in the fourth quarter worth $909,598,000. Geode Capital Management LLC increased its position in shares of TE Connectivity by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after purchasing an additional 33,340 shares during the period. Ameriprise Financial Inc. increased its position in shares of TE Connectivity by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after purchasing an additional 592,072 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the period. Institutional investors own 91.43% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on TEL. UBS Group raised their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Citigroup decreased their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Truist Financial decreased their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $162.50.
Get Our Latest Report on TEL
Insider Buying and Selling at TE Connectivity
In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction that occurred on 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 approximately $948,320. This represents a 34.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the transaction, the executive vice president now owns 24,625 shares in the company, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,675 shares of company stock valued at $27,062,559. 0.90% of the stock is currently owned by company insiders.
TE Connectivity Trading Down 1.0%
Shares of TE Connectivity stock traded down $1.56 on Friday, hitting $159.99. The stock had a trading volume of 2,444,724 shares, compared to its average volume of 1,706,718. The stock has a 50 day moving average of $144.78 and a 200 day moving average of $147.14. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $164.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market capitalization of $47.44 billion, a P/E ratio of 25.56, a PEG ratio of 2.11 and a beta of 1.24.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion during 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 for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. Sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is currently 62.42%.
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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