1,880 Shares in TE Connectivity Ltd. (NYSE:TEL) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,880 shares of the electronics maker’s stock, valued at approximately $269,000.

Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its position 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 worth $36,732,000 after buying an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after buying an additional 23,755 shares in the last quarter. Meyer Handelman Co. lifted its position in shares of TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after buying an additional 9,175 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $2,920,000. Finally, abrdn plc purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $15,739,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.7 %

Shares of NYSE:TEL opened at $146.88 on Tuesday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The stock has a market cap of $43.82 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The business’s 50 day moving average is $148.60 and its 200 day moving average is $148.45. 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 (NYSE:TEL) last announced its quarterly earnings data 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current 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 given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.93%. 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 dividend payout ratio (DPR) is 45.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TEL shares. Truist Financial decreased their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Citigroup upped 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. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $167.00.

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.