Fmr LLC Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Fmr LLC boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,213,446 shares of the electronics maker’s stock after purchasing an additional 32,164 shares during the period. Fmr LLC’s holdings in TE Connectivity were worth $173,486,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. EP Wealth Advisors LLC purchased a new stake in TE Connectivity during the 3rd quarter worth about $278,000. MML Investors Services LLC increased its stake in TE Connectivity by 11.1% in the third quarter. MML Investors Services LLC now owns 22,722 shares of the electronics maker’s stock valued at $3,431,000 after acquiring an additional 2,276 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of TE Connectivity during the 3rd quarter valued at about $2,586,000. M&T Bank Corp lifted its holdings in shares of TE Connectivity by 13.1% in the 3rd quarter. M&T Bank Corp now owns 21,211 shares of the electronics maker’s stock worth $3,203,000 after acquiring an additional 2,463 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its position in TE Connectivity by 14.8% during the third quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock valued at $762,000 after buying an additional 652 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE:TEL opened at $127.85 on Friday. The stock has a 50-day simple moving average of $144.78 and a two-hundred day simple moving average of $147.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $159.98. The firm has a market capitalization of $38.14 billion, a PE ratio of 20.42, a P/E/G ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 EPS. Analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is presently 45.37%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, UBS Group decreased their price target on TE Connectivity from $188.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average price target of $163.60.

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.