Federated Hermes Inc. Acquires 13,188 Shares of TE Connectivity Ltd. (NYSE:TEL)

Federated Hermes Inc. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,637 shares of the electronics maker's stock after purchasing an additional 13,188 shares during the period. Federated Hermes Inc.'s holdings in TE Connectivity were worth $12,875,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC increased its stake in shares of TE Connectivity by 5.2% in the 3rd quarter. CWM LLC now owns 6,110 shares of the electronics maker's stock worth $755,000 after purchasing an additional 302 shares in the last quarter. Ronald Blue Trust Inc. increased its stake in shares of TE Connectivity by 43.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 424 shares of the electronics maker's stock worth $52,000 after purchasing an additional 128 shares in the last quarter. IFP Advisors Inc increased its stake in shares of TE Connectivity by 35.9% in the 3rd quarter. IFP Advisors Inc now owns 2,036 shares of the electronics maker's stock worth $251,000 after purchasing an additional 538 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of TE Connectivity by 247.7% in the 3rd quarter. SG Americas Securities LLC now owns 25,183 shares of the electronics maker's stock worth $3,111,000 after purchasing an additional 17,941 shares in the last quarter. Finally, Founders Financial Securities LLC increased its stake in TE Connectivity by 8.9% in the 3rd quarter. Founders Financial Securities LLC now owns 1,650 shares of the electronics maker's stock worth $204,000 after buying an additional 135 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. The Goldman Sachs Group reissued a "buy" rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a "hold" rating in a report on Thursday, January 25th. Finally, Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.30.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares of the company's stock, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity Price Performance

NYSE TEL traded down $3.23 during trading hours on Wednesday, hitting $140.00. 5,767,071 shares of the company's stock traded hands, compared to its average volume of 2,201,586. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The company has a market capitalization of $43.51 billion, a PE ratio of 13.30, a PEG ratio of 2.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The firm's 50-day moving average is $142.71 and its 200-day moving average is $136.00.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.87 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. Equities analysts forecast that TE Connectivity Ltd. will post 7.59 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity's dividend payout ratio is currently 24.67%.

TE Connectivity 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.