TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Axiom Investors LLC DE

Axiom Investors LLC DE raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,068 shares of the electronics maker’s stock after purchasing an additional 24,931 shares during the quarter. Axiom Investors LLC DE owned about 0.08% of TE Connectivity worth $33,608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its holdings in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank acquired a new position in TE Connectivity during the fourth quarter worth $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TEL shares. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Robert W. Baird raised their target price 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. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial decreased their price target 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, Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Trading Down 3.4 %

Shares of TEL opened at $142.04 on Monday. The firm has a market capitalization of $42.38 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The stock’s 50-day moving average price is $149.32 and its 200 day moving average price is $148.44.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company 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%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

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

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.