Arrowstreet Capital Limited Partnership Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 55.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 625,464 shares of the electronics maker’s stock after purchasing an additional 223,018 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.21% of TE Connectivity worth $89,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its stake in shares of TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares during the period. Central Pacific Bank Trust Division bought a new position in TE Connectivity in the 4th quarter worth $2,920,000. Meyer Handelman Co. lifted its position in shares of TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. abrdn plc bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $15,739,000. Finally, Truist Financial Corp increased its position in shares of TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after buying an additional 31,991 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TEL. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial reduced their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Citigroup increased their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Seven investment 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 company presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Stock Down 0.5 %

Shares of TE Connectivity stock opened at $141.36 on Tuesday. The company has a 50-day simple moving average of $149.23 and a two-hundred day simple moving average of $148.42. The stock has a market capitalization of $42.18 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. 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 for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates 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 for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.01%. 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 (DPR) is presently 45.37%.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on 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 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 SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

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.