Virtus ETF Advisers LLC Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Virtus ETF Advisers LLC acquired a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,627 shares of the electronics maker's stock, valued at approximately $1,090,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC grew its holdings in TE Connectivity by 14.8% during the 3rd quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker's stock worth $762,000 after acquiring an additional 652 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in TE Connectivity by 286.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker's stock valued at $2,534,000 after buying an additional 12,444 shares during the period. Tidal Investments LLC boosted its holdings in shares of TE Connectivity by 24.5% during the 3rd quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker's stock worth $3,341,000 after buying an additional 4,359 shares in the last quarter. Franklin Resources Inc. grew its position in shares of TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after buying an additional 712,228 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of TE Connectivity by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,458 shares of the electronics maker's stock valued at $1,859,000 after acquiring an additional 223 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEL has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research note 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. UBS Group reaffirmed a "buy" rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. Citigroup reduced their price target on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $159.50.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Performance

Shares of TEL stock traded up $1.07 during trading on Wednesday, hitting $146.32. The company's stock had a trading volume of 2,055,074 shares, compared to its average volume of 1,711,304. 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 company has a market cap of $43.66 billion, a PE ratio of 23.37, a P/E/G ratio of 2.11 and a beta of 1.25. The business has a fifty day moving average of $141.02 and a 200-day moving average of $146.04. TE Connectivity Ltd. has a 52 week low of $137.79 and a 52 week high of $158.00.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is 62.42%.

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.