TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 180.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,630 shares of the electronics maker's stock after purchasing an additional 86,591 shares during the quarter. Mackenzie Financial Corp's holdings in TE Connectivity were worth $19,026,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TEL. Geode Capital Management LLC lifted 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 during the last quarter. Ameriprise Financial Inc. increased its stake in 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. EdgePoint Investment Group Inc. lifted its position in shares of TE Connectivity by 15.3% during the fourth quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock worth $555,303,000 after purchasing an additional 516,400 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TE Connectivity by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,224,564 shares of the electronics maker's stock worth $461,013,000 after purchasing an additional 30,793 shares during the last quarter. Finally, Northern Trust Corp increased its stake in TE Connectivity by 29.3% in the 4th quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock worth $384,739,000 after buying an additional 610,571 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Friday, April 25th. Truist Financial lifted their target price on TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus price target of $194.80.

TE Connectivity Stock Down 2.0%

Shares of NYSE:TEL traded down $4.10 on Friday, reaching $201.65. The company had a trading volume of 2,931,353 shares, compared to its average volume of 2,090,393. The firm has a market capitalization of $59.58 billion, a PE ratio of 41.75, a PEG ratio of 2.46 and a beta of 1.23. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $212.76. The firm's 50 day simple moving average is $173.44 and its 200-day simple moving average is $155.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 earnings per share. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is currently 58.80%.

Insiders Place Their Bets

In other news, EVP John S. Jenkins sold 45,850 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the sale, the executive vice president owned 24,625 shares in the company, valued at approximately $5,154,751.25. This represents a 65.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction 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 transaction, the senior vice president owned 5,927 shares in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,470 shares of company stock valued at $45,313,205. 0.90% of the stock is currently owned by company insiders.

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.