TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Royal Bank of Canada

Royal Bank of Canada boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 95.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,277,319 shares of the electronics maker's stock after acquiring an additional 623,652 shares during the period. Royal Bank of Canada owned approximately 0.43% of TE Connectivity worth $182,618,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its holdings in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC acquired a new stake in TE Connectivity during the 4th quarter worth $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at approximately $44,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in shares of TE Connectivity during the fourth quarter worth $57,000. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of TEL traded down $3.40 during trading hours on Wednesday, reaching $159.50. 1,939,416 shares of the company traded hands, compared to its average volume of 1,703,871. The business has a fifty day moving average price of $142.84 and a 200-day moving average price of $146.80. The stock has a market capitalization of $47.30 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm posted $1.86 earnings per share. The company's revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.78%. TE Connectivity's dividend payout ratio is 62.42%.

Analyst Ratings Changes

Several research firms have weighed in on TEL. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial decreased their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, UBS Group restated a "buy" rating and issued a $163.00 target price (up previously from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $160.30.

Insider Buying and Selling at TE Connectivity

In related news, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the transaction, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock valued at $27,062,559 in the last 90 days. Company insiders own 0.90% of the company's stock.

TE Connectivity Company Profile

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.