Russell Investments Group Ltd. Purchases 131,431 Shares of TE Connectivity Ltd. (NYSE:TEL)

Russell Investments Group Ltd. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 42.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,273 shares of the electronics maker’s stock after purchasing an additional 131,431 shares during the period. Russell Investments Group Ltd. owned 0.15% of TE Connectivity worth $62,942,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. increased its stake in shares of TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in TE Connectivity during the 4th quarter worth about $2,920,000. Meyer Handelman Co. increased its position in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after acquiring an additional 9,175 shares in the last quarter. abrdn plc acquired a new stake in TE Connectivity in the 4th quarter valued at about $15,739,000. Finally, Truist Financial Corp raised its stake in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after acquiring an additional 31,991 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEL. HSBC raised 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 lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Citigroup boosted their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $167.00.

TE Connectivity Stock Down 6.2 %

Shares of NYSE TEL opened at $121.92 on Monday. TE Connectivity Ltd. has a 52-week low of $118.28 and a 52-week high of $159.98. 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. The firm has a 50 day moving average price of $147.64 and a 200 day moving average price of $148.07.

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 analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations 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 expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm 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. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. TE Connectivity’s payout ratio is currently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

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.