TIAA Trust National Association Increases Position in TE Connectivity Ltd. (NYSE:TEL)

TIAA Trust National Association raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,122 shares of the electronics maker’s stock after purchasing an additional 251 shares during the period. TIAA Trust National Association’s holdings in TE Connectivity were worth $446,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 valued at $4,629,225,000 after purchasing an additional 4,029,596 shares in the last quarter. Amundi bought a new stake in TE Connectivity in the fourth quarter worth $159,992,000. Nordea Investment Management AB purchased a new stake in TE Connectivity during the fourth quarter valued at about $149,211,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after buying an additional 722,565 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the period. Institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL stock opened at $142.04 on Friday. The firm has a 50-day moving average of $149.32 and a 200 day moving average of $148.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market cap of $42.38 billion, a P/E ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TEL shares. Bank of America raised 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. Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. HSBC upgraded 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. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Truist Financial lowered 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. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $167.00.

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.