Hsbc Holdings PLC Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Hsbc Holdings PLC boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 413.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 257,988 shares of the electronics maker’s stock after buying an additional 207,715 shares during the period. Hsbc Holdings PLC owned approximately 0.09% of TE Connectivity worth $36,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Anchor Investment Management LLC lifted its position in TE Connectivity by 14.8% during the 3rd quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock worth $762,000 after acquiring an additional 652 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of TE Connectivity by 286.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker’s stock worth $2,534,000 after purchasing an additional 12,444 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of TE Connectivity by 24.5% in the third quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker’s stock valued at $3,341,000 after purchasing an additional 4,359 shares during the period. Franklin Resources Inc. lifted its holdings in 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 purchasing an additional 712,228 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of TE Connectivity by 1.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,458 shares of the electronics maker’s stock worth $1,859,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of several recent analyst reports. Truist Financial dropped their target price on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Citigroup dropped their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $144.58 on Friday. The business has a fifty day simple moving average of $141.45 and a 200-day simple moving average of $146.08. The stock has a market cap of $43.14 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. 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 $116.30 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

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.