Raiffeisen Bank International AG Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Raiffeisen Bank International AG bought a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,545 shares of the electronics maker's stock, valued at approximately $792,000.

Several other large investors also recently made changes to their positions in TEL. Wellington Management Group LLP acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $909,598,000. Vanguard Group Inc. increased 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 purchasing an additional 4,029,596 shares in the last quarter. Norges Bank purchased a new stake in shares of TE Connectivity in the fourth quarter worth approximately $508,199,000. Clearbridge Investments LLC lifted 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 in the last quarter. Finally, Amundi bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $159,992,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John S. Jenkins sold 20,400 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,675 shares of company stock worth $27,062,559 over the last ninety days. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent research reports. 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 report on Friday, April 25th. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Finally, Truist Financial dropped their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $160.30.

TE Connectivity Stock Performance

TEL traded down $0.18 during midday trading on Tuesday, reaching $162.69. The company had a trading volume of 1,504,818 shares, compared to its average volume of 1,700,090. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market cap of $48.25 billion, a PE ratio of 25.99, a P/E/G ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11. The business has a 50-day moving average price of $142.41 and a two-hundred day moving average price of $146.69.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business posted $1.86 earnings per share. On average, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. TE Connectivity's payout ratio is 62.42%.

About TE Connectivity

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.