Janus Henderson Group PLC Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Janus Henderson Group PLC lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,832,104 shares of the electronics maker's stock after selling 75,263 shares during the period. Janus Henderson Group PLC owned approximately 0.95% of TE Connectivity worth $404,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in TE Connectivity in the 4th quarter valued at $909,598,000. Vanguard Group Inc. boosted its holdings in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares during the last quarter. Norges Bank bought a new stake in shares of TE Connectivity in the 4th quarter worth $508,199,000. Clearbridge Investments LLC raised its holdings in shares of TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Amundi bought a new position in shares of TE Connectivity during the fourth quarter valued at about $159,992,000. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEL has been the topic of a number of research analyst reports. Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company 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 target price on the stock in a research note on Friday, April 25th. Finally, StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $159.50.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at $4,010,181.25. This trade represents a 45.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's 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 owns 25,976 shares in the company, valued at approximately $3,812,497.52. This 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 90 days. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

Shares of TEL stock traded up $2.84 on Thursday, hitting $163.58. 2,049,465 shares of the stock were exchanged, compared to its average volume of 1,695,508. The firm's 50 day moving average is $141.31 and its two-hundred day moving average is $146.47. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $165.00. The firm has a market capitalization of $48.51 billion, a PE ratio of 26.13, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion during 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%. The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.86 earnings per share. Sell-side 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. Investors 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 1.74%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's payout ratio is currently 62.42%.

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.