Tower Research Capital LLC TRC Boosts Position in TE Connectivity Ltd. (NYSE:TEL)

Tower Research Capital LLC TRC raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 302.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,564 shares of the electronics maker's stock after buying an additional 15,459 shares during the period. Tower Research Capital LLC TRC's holdings in TE Connectivity were worth $2,940,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TEL. MML Investors Services LLC boosted its position in shares of TE Connectivity by 5.7% during the 4th quarter. MML Investors Services LLC now owns 24,007 shares of the electronics maker's stock valued at $3,432,000 after purchasing an additional 1,285 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of TE Connectivity by 0.3% during the 4th quarter. MetLife Investment Management LLC now owns 73,922 shares of the electronics maker's stock valued at $10,569,000 after purchasing an additional 223 shares in the last quarter. Norinchukin Bank The boosted its position in shares of TE Connectivity by 5.5% during the 4th quarter. Norinchukin Bank The now owns 12,963 shares of the electronics maker's stock valued at $1,853,000 after purchasing an additional 678 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in TE Connectivity during the 4th quarter worth approximately $9,317,000. Finally, Curi RMB Capital LLC raised its stake in TE Connectivity by 1.6% during the 4th quarter. Curi RMB Capital LLC now owns 7,674 shares of the electronics maker's stock worth $1,097,000 after buying an additional 118 shares during the period. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEL. Truist Financial dropped their price target on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Citigroup lowered their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $159.50.

TE Connectivity Stock Performance

Shares of TEL traded up $1.06 on Friday, reaching $144.58. 1,464,520 shares of the company's stock traded hands, compared to its average volume of 1,685,922. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.14 billion, a PE ratio of 23.10, a PEG ratio of 2.11 and a beta of 1.25. The stock's 50 day simple moving average is $141.45 and its two-hundred day simple moving average is $146.06. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.96%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is 45.37%.

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.