Lansforsakringar Fondforvaltning AB publ bought a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 102,526 shares of the electronics maker's stock, valued at approximately $14,658,000.
A number of other large investors have also recently added to or reduced their stakes in TEL. Vanguard Group Inc. grew its holdings in shares of TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after buying an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP acquired a new position in TE Connectivity during the 4th quarter worth approximately $909,598,000. Geode Capital Management LLC grew its stake in shares of TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after acquiring an additional 33,340 shares in the last quarter. Ameriprise Financial Inc. raised its holdings 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 valued at $801,101,000 after purchasing an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC lifted 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 in the last quarter. Institutional investors own 91.43% of the company's stock.
Insider Transactions at TE Connectivity
In other news, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction 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 directly owns 45,503 shares in the company, valued at approximately $7,244,532.63. This represents a 53.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 24,625 shares in the company, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.
Wall Street Analyst Weigh In
TEL has been the subject of a number of analyst reports. Truist Financial decreased 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. JPMorgan Chase & Co. raised their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. The Goldman Sachs Group dropped their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Robert W. Baird upped their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.50.
Check Out Our Latest Research Report on TE Connectivity
TE Connectivity Price Performance
NYSE TEL traded down $1.56 during midday trading on Friday, hitting $159.99. The company had a trading volume of 2,444,724 shares, compared to its average volume of 1,708,561. The company has a market capitalization of $47.44 billion, a PE ratio of 25.56, a P/E/G ratio of 2.11 and a beta of 1.24. The firm has a 50-day moving average price of $144.59 and a 200-day moving average price of $147.15. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $164.11. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.
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, topping analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is an increase 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 yield of 1.78%. TE Connectivity's payout ratio is presently 62.42%.
TE Connectivity Profile
(
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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