USS Investment Management Ltd purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 92,892 shares of the electronics maker's stock, valued at approximately $13,285,000.
Other large investors have also modified their holdings of the company. abrdn plc bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $15,739,000. Truist Financial Corp raised its stake 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 worth $18,509,000 after acquiring an additional 31,991 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of TE Connectivity by 67.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker's stock worth $6,329,000 after acquiring an additional 17,866 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $237,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock worth $949,000 after acquiring an additional 841 shares in the last quarter. Institutional investors own 91.43% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on TEL shares. UBS Group reiterated a "buy" rating and set a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Friday, April 25th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Truist Financial reduced their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.30.
Get Our Latest Stock Analysis on TE Connectivity
TE Connectivity Stock Performance
TE Connectivity stock traded down $1.20 during mid-day trading on Friday, reaching $157.71. 1,298,975 shares of the company traded hands, compared to its average volume of 1,701,386. 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 fifty-two week low of $116.30 and a fifty-two week high of $164.11. The company has a market capitalization of $46.77 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The firm's fifty day moving average is $143.56 and its two-hundred day moving average is $147.01.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the business posted $1.86 EPS. TE Connectivity's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio is 62.42%.
Insider Activity
In other news, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock valued at $27,062,559 in the last ninety days. Insiders own 0.90% of the company's stock.
TE Connectivity Profile
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Free Report)
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.
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