International Assets Investment Management LLC Invests $10.76 Million in TE Connectivity Ltd. (NYSE:TEL)

International Assets Investment Management LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 76,573 shares of the electronics maker's stock, valued at approximately $10,759,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of TE Connectivity by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker's stock valued at $3,617,824,000 after acquiring an additional 308,580 shares in the last quarter. State Street Corp lifted its position in shares of TE Connectivity by 19.5% in the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker's stock valued at $1,851,648,000 after acquiring an additional 2,309,835 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TE Connectivity by 1.2% in the first quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker's stock valued at $697,471,000 after acquiring an additional 62,134 shares in the last quarter. Norges Bank acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $584,131,000. Finally, Invesco Ltd. increased its holdings in shares of TE Connectivity by 3.5% in the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker's stock valued at $564,794,000 after purchasing an additional 154,496 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares of the company's stock, valued at approximately $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Down 2.5 %

NYSE:TEL traded down $3.73 during midday trading on Friday, reaching $142.98. The company had a trading volume of 1,946,581 shares, compared to its average volume of 1,855,798. The firm has a market capitalization of $44.44 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.09 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock's fifty day simple moving average is $142.73 and its 200-day simple moving average is $134.96. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. TE Connectivity's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity's dividend payout ratio (DPR) is 22.39%.

Analyst Upgrades and Downgrades

TEL has been the subject of several recent research reports. Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They issued a "neutral" rating and a $146.00 price target for the company. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday. They issued a "buy" rating and a $180.00 price target for the company. Truist Financial increased their price target on TE Connectivity from $148.00 to $153.00 and gave the company a "hold" rating in a report on Thursday, January 25th. Wells Fargo & Company started coverage on TE Connectivity in a research note on Friday, December 15th. They set an "equal weight" rating and a $144.00 target price for the company. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of TE Connectivity in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.30.

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.