Syon Capital LLC Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Syon Capital LLC increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,303 shares of the electronics maker’s stock after buying an additional 305 shares during the quarter. Syon Capital LLC’s holdings in TE Connectivity were worth $464,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of TE Connectivity during the 4th quarter valued at approximately $10,759,000. Nordea Investment Management AB grew its holdings in TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after purchasing an additional 41,198 shares during the period. SG Americas Securities LLC increased its position in TE Connectivity by 518.3% in the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after buying an additional 130,515 shares during the last quarter. Patten Group Inc. purchased a new stake in TE Connectivity in the fourth quarter worth $220,000. Finally, Ninety One North America Inc. raised its stake in shares of TE Connectivity by 39.4% in the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after buying an additional 17,322 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the subject of several research reports. Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial lifted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Citigroup assumed coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.50.

Insider Buying and Selling

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is owned by company insiders.

TE Connectivity Price Performance

TE Connectivity stock opened at $140.21 on Friday. The business has a 50-day simple moving average of $142.55 and a 200 day simple moving average of $136.17. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The stock has a market cap of $43.58 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.06 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the business earned $1.65 earnings per share. TE Connectivity’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts forecast that TE Connectivity Ltd. will post 7.56 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 21.59%.

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.