Signaturefd LLC Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Signaturefd LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,911 shares of the electronics maker’s stock after acquiring an additional 615 shares during the quarter. Signaturefd LLC’s holdings in TE Connectivity were worth $971,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. increased its position in shares of TE Connectivity by 3.5% during the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after purchasing an additional 154,496 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in TE Connectivity by 3.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock worth $558,537,000 after acquiring an additional 145,605 shares during the period. Impax Asset Management Group plc boosted its stake in TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after acquiring an additional 51,866 shares during the last quarter. Morgan Stanley grew its position in shares of TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of TE Connectivity by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock worth $371,384,000 after purchasing an additional 110,510 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

TEL stock opened at $143.77 on Tuesday. The firm has a 50 day simple moving average of $142.66 and a two-hundred day simple moving average of $135.86. The stock has a market cap of $44.68 billion, a PE ratio of 13.64, a P/E/G ratio of 2.00 and a beta of 1.39. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that TE Connectivity Ltd. will post 7.59 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.81%. TE Connectivity’s payout ratio is 22.39%.

Insider Buying and Selling at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

TEL has been the subject of several research reports. Truist Financial increased their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Stifel Nicolaus lifted their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Jefferies Financial Group started coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Robert W. Baird upped their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus price target of $153.30.

TE Connectivity Company 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.