Waterloo Capital L.P. Reduces Stake in TE Connectivity Ltd. (NYSE:TEL)

Waterloo Capital L.P. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,586 shares of the electronics maker’s stock after selling 513 shares during the period. Waterloo Capital L.P.’s holdings in TE Connectivity were worth $370,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in TE Connectivity by 14.2% in 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 acquiring an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $909,598,000. Geode Capital Management LLC increased its position in shares of TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after buying an additional 33,340 shares during the period. Clearbridge Investments LLC raised its stake in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after buying an additional 1,702,825 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after buying an additional 488,680 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TEL. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Truist Financial lowered their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America upped their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Up 1.3 %

Shares of TE Connectivity stock opened at $123.62 on Tuesday. The company has a 50-day simple moving average of $147.11 and a two-hundred day simple moving average of $147.88. TE Connectivity Ltd. has a 52-week low of $116.30 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 capitalization of $36.88 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. On average, analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.30%. TE Connectivity’s payout ratio is 45.37%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

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.