Tower Research Capital LLC TRC Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Tower Research Capital LLC TRC lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 302.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,564 shares of the electronics maker’s stock after buying an additional 15,459 shares during the quarter. Tower Research Capital LLC TRC’s holdings in TE Connectivity were worth $2,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TEL. MML Investors Services LLC boosted its stake in shares of TE Connectivity by 5.7% in the fourth 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 during the period. MetLife Investment Management LLC boosted its position in TE Connectivity by 0.3% in the 4th quarter. MetLife Investment Management LLC now owns 73,922 shares of the electronics maker’s stock valued at $10,569,000 after buying an additional 223 shares during the period. Norinchukin Bank The grew its stake in shares of TE Connectivity by 5.5% in the fourth quarter. Norinchukin Bank The now owns 12,963 shares of the electronics maker’s stock worth $1,853,000 after acquiring an additional 678 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $9,317,000. Finally, Curi RMB Capital LLC boosted its holdings in TE Connectivity by 1.6% in the fourth quarter. Curi RMB Capital LLC now owns 7,674 shares of the electronics maker’s stock valued at $1,097,000 after purchasing an additional 118 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TEL has been the subject of several recent research reports. Robert W. Baird decreased their price objective on TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group lowered their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Truist Financial reduced their price objective 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. 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 report on Monday, April 14th. Finally, Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.90.

TE Connectivity Price Performance

Shares of TEL opened at $128.97 on Tuesday. The company has a market capitalization of $38.48 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $159.98. The firm has a 50-day simple moving average of $142.57 and a 200-day simple moving average of $146.25. 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 (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is 45.37%.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade 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 available at this link. Company insiders own 0.90% of the company’s stock.

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.