Geode Capital Management LLC Has $857.50 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Geode Capital Management LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,015,210 shares of the electronics maker’s stock after acquiring an additional 33,340 shares during the quarter. Geode Capital Management LLC owned approximately 2.02% of TE Connectivity worth $857,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the fourth quarter worth $26,000. SRS Capital Advisors Inc. lifted its position in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new stake in TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the 4th quarter valued at about $44,000. Finally, Hilltop National Bank bought a new position in shares of TE Connectivity in the fourth quarter worth about $55,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Truist Financial lowered their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citigroup boosted 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. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Up 1.1 %

Shares of TE Connectivity stock opened at $142.23 on Thursday. TE Connectivity Ltd. has a 52-week low of $131.42 and a 52-week high of $159.98. The business’s 50 day simple moving average is $148.83 and its 200 day simple moving average is $148.34. The firm has a market cap of $42.43 billion, a PE ratio of 22.72, a P/E/G ratio of 2.11 and a beta of 1.25. 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 released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share 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. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.00%. TE Connectivity’s dividend payout ratio is currently 45.37%.

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.