abrdn plc Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

abrdn plc grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 55.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,007 shares of the electronics maker's stock after buying an additional 49,049 shares during the quarter. abrdn plc's holdings in TE Connectivity were worth $19,249,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TEL. Vista Investment Management lifted its stake in TE Connectivity by 0.7% in the 3rd quarter. Vista Investment Management now owns 11,970 shares of the electronics maker's stock valued at $1,479,000 after purchasing an additional 84 shares during the last quarter. Bison Wealth LLC raised its stake in TE Connectivity by 1.4% in the 3rd quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker's stock valued at $812,000 after acquiring an additional 88 shares during the period. Caprock Group LLC lifted its holdings in TE Connectivity by 1.6% during the 4th quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker's stock valued at $784,000 after purchasing an additional 88 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in TE Connectivity by 14.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker's stock valued at $92,000 after purchasing an additional 94 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in TE Connectivity by 4.1% during the third quarter. Ballentine Partners LLC now owns 2,536 shares of the electronics maker's stock worth $313,000 after purchasing an additional 99 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEL. JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating for the company in a research note on Thursday. Robert W. Baird decreased their price objective on TE Connectivity from $159.00 to $158.00 and set an "outperform" rating on the stock in a report on Thursday. Truist Financial lifted their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. Jefferies Financial Group began coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a "buy" rating and a $180.00 price target on the stock. Finally, Citigroup started coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a "neutral" rating and a $146.00 price objective for the company. Five equities 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, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average target price of $153.50.

TE Connectivity Price Performance

Shares of TEL traded up $0.44 during mid-day trading on Thursday, reaching $140.44. The company had a trading volume of 3,219,400 shares, compared to its average volume of 2,214,311. The company has a market capitalization of $43.65 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 2.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The company's 50 day simple moving average is $142.65 and its 200 day simple moving average is $136.02. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity's payout ratio is 22.39%.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by insiders.

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.