Teza Capital Management LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Teza Capital Management LLC acquired a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 32,074 shares of the electronics maker's stock, valued at approximately $4,586,000. TE Connectivity accounts for 0.7% of Teza Capital Management LLC's investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors have also modified their holdings of the company. abrdn plc purchased a new stake in TE Connectivity during the fourth quarter worth approximately $15,739,000. Truist Financial Corp boosted its position in TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after purchasing an additional 31,991 shares during the period. Merit Financial Group LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth about $237,000. First Citizens Bank & Trust Co. boosted its position in shares of TE Connectivity by 67.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker's stock worth $6,329,000 after buying an additional 17,866 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of 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 buying an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 5,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider now owns 23,646 shares of the company's stock, valued at approximately $3,783,360. This trade represents a 17.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,675 shares of company stock valued at $27,062,559. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

Shares of TEL stock traded down $0.81 on Friday, hitting $158.10. 573,842 shares of the stock traded hands, compared to its average volume of 1,698,791. The company has a market capitalization of $46.88 billion, a PE ratio of 25.25, a PEG ratio of 2.11 and a beta of 1.24. The company's fifty day moving average is $143.34 and its 200 day moving average is $146.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year 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 (EPS) 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 for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm posted $1.86 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.80%. This is a boost 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%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday. Truist Financial dropped their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $160.30.

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.