Grantham Mayo Van Otterloo & Co. LLC Sells 21,657 Shares of TE Connectivity Ltd. (NYSE:TEL)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,179 shares of the electronics maker’s stock after selling 21,657 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in TE Connectivity were worth $9,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TEL. Vanguard Group Inc. boosted its stake in shares of TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP bought a new stake in TE Connectivity during the 4th quarter valued at $909,598,000. Geode Capital Management LLC increased its holdings in shares of TE Connectivity by 0.6% in 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 during the period. 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. Finally, Bank of New York Mellon Corp lifted its stake in shares of TE Connectivity by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after purchasing an additional 488,680 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

TEL has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Stock Performance

Shares of TEL opened at $121.92 on Monday. The stock has a 50-day moving average of $147.64 and a two-hundred day moving average of $148.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market cap of $36.38 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a one year low of $118.28 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.33%. This is a positive change 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 presently 45.37%.

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.