Meeder Advisory Services Inc. Grows Stake in TE Connectivity Ltd. (NYSE:TEL)

Meeder Advisory Services Inc. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,877 shares of the electronics maker’s stock after buying an additional 443 shares during the quarter. Meeder Advisory Services Inc.’s holdings in TE Connectivity were worth $1,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEL. Vanguard Group Inc. lifted its position in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. State Street Corp raised its stake in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Wellington Management Group LLP purchased a new stake in TE Connectivity during the fourth quarter worth $909,598,000. Geode Capital Management LLC boosted its position in TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after acquiring an additional 33,340 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after acquiring an additional 1,702,825 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL 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 moving average price is $148.83 and its 200 day moving average price is $148.34. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market cap of $42.43 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business 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 dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Analysts Set New Price Targets

TEL has been the topic of several analyst reports. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial decreased their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Seven 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 company currently has an average rating of “Hold” and a consensus price target of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

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.