Siemens Fonds Invest GmbH Purchases New Position in TE Connectivity Ltd. (NYSE:TEL)

Siemens Fonds Invest GmbH bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,208 shares of the electronics maker's stock, valued at approximately $602,000.

A number of other institutional investors have also added to or reduced their stakes in the company. abrdn plc bought a new stake in TE Connectivity in the 4th quarter valued at $15,739,000. Truist Financial Corp boosted its position in shares of TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after acquiring an additional 31,991 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in TE Connectivity by 14.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after acquiring an additional 841 shares during the period. Venturi Wealth Management LLC raised its position in TE Connectivity by 80.6% in the fourth quarter. Venturi Wealth Management LLC now owns 11,821 shares of the electronics maker's stock worth $1,690,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV bought a new position in TE Connectivity during the fourth quarter worth about $243,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 directly owns 24,625 shares in the company, valued at $4,010,181.25. This represents a 45.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,675 shares of company stock valued at $27,062,559. Company insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

NYSE TEL traded down $0.74 on Monday, hitting $159.34. 722,118 shares of the company were exchanged, compared to its average volume of 1,702,872. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $164.11. The firm has a 50 day moving average of $144.78 and a two-hundred day moving average of $147.10. 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 cap of $47.25 billion, a P/E ratio of 25.45, a P/E/G ratio of 2.11 and a beta of 1.24.

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

TE Connectivity Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TEL shares. UBS Group upped their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird boosted their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Friday, April 25th. Citigroup dropped their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company boosted their target price on shares of TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Five 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.50.

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.