Vanguard Group Inc. Buys 4,029,596 Shares of TE Connectivity Ltd. (NYSE:TEL)

Vanguard Group Inc. raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,378,995 shares of the electronics maker’s stock after purchasing an additional 4,029,596 shares during the period. Vanguard Group Inc. owned approximately 10.85% of TE Connectivity worth $4,629,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. LPL Financial LLC grew its position in TE Connectivity by 0.3% during the fourth quarter. LPL Financial LLC now owns 325,053 shares of the electronics maker’s stock worth $46,473,000 after buying an additional 1,117 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $15,159,000. Sei Investments Co. grew its holdings in shares of TE Connectivity by 3.2% during the 4th quarter. Sei Investments Co. now owns 316,699 shares of the electronics maker’s stock worth $45,278,000 after purchasing an additional 9,913 shares in the last quarter. American Century Companies Inc. increased its position in shares of TE Connectivity by 5.6% during the fourth quarter. American Century Companies Inc. now owns 2,140,941 shares of the electronics maker’s stock valued at $306,090,000 after purchasing an additional 114,318 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in shares of TE Connectivity by 43.9% in the fourth quarter. Mizuho Securities USA LLC now owns 28,354 shares of the electronics maker’s stock valued at $4,054,000 after purchasing an additional 8,646 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TEL shares. Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. 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 research note on Thursday, January 23rd. Truist Financial lowered their price objective 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. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $167.00.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 2.0 %

Shares of TEL opened at $149.04 on Tuesday. The stock has a fifty day moving average price of $149.07 and a two-hundred day moving average price of $148.35. 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 company has a market cap of $44.47 billion, a price-to-earnings ratio of 23.81, a PEG 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.

TE Connectivity (NYSE:TEL) last issued its quarterly 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. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.91%. The ex-dividend date 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%.

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.