TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,468,586 shares of the electronics maker's stock after purchasing an additional 27,082 shares during the quarter. TE Connectivity comprises about 1.2% of Pzena Investment Management LLC's investment portfolio, making the stock its 26th largest position. Pzena Investment Management LLC owned about 0.83% of TE Connectivity worth $348,861,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Ballentine Partners LLC raised its stake in shares of TE Connectivity by 1.4% in the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares during the period. Vista Investment Management raised its stake in shares of TE Connectivity by 0.5% in the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after acquiring an additional 70 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after acquiring an additional 75 shares during the period. Wedmont Private Capital raised its stake in shares of TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 80 shares during the period. Finally, First County Bank CT raised its stake in shares of TE Connectivity by 3.6% in the first quarter. First County Bank CT now owns 2,425 shares of the electronics maker's stock valued at $343,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

TEL stock traded up $1.35 during trading on Friday, reaching $179.03. The company had a trading volume of 4,341,572 shares, compared to its average volume of 1,720,788. The firm has a 50-day simple moving average of $165.93 and a 200-day simple moving average of $151.70. The company has a market cap of $53.09 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $179.73.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 13,100 shares of TE Connectivity stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the completion of the sale, the insider directly owned 23,657 shares in the company, valued at approximately $4,021,690. The trade was a 35.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares of the company's stock, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,775 shares of company stock worth $29,596,059. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on TEL shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Truist Financial dropped their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. UBS Group increased their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company increased their target price on shares of TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $177.10.

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.