Capital International Inc. CA lifted its position in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,660 shares of the electronics maker’s stock after purchasing an additional 9,602 shares during the period. Capital International Inc. CA’s holdings in TE Connectivity were worth $31,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at $25,000. Caitlin John LLC acquired a new position in shares of TE Connectivity in the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TE Connectivity in the 3rd quarter valued at $29,000. JFS Wealth Advisors LLC lifted its stake in shares of TE Connectivity by 54.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Finally, Westfuller Advisors LLC increased its holdings in TE Connectivity by 120.2% in the 4th quarter. Westfuller Advisors LLC now owns 185 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 101 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Price Performance
TE Connectivity stock opened at $212.70 on Friday. TE Connectivity Ltd. has a 52-week low of $162.17 and a 52-week high of $252.56. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.51 and a beta of 1.16. The company has a fifty day simple moving average of $214.26 and a 200-day simple moving average of $221.29. The company has a quick ratio of 1.20, a current ratio of 1.89 and a debt-to-equity ratio of 0.42.
TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
TE Connectivity Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 22nd. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.71. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. TE Connectivity’s payout ratio is currently 31.87%.
Insider Activity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the completion of the sale, the insider owned 25,976 shares of the company’s stock, valued at $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,200 shares of company stock worth $6,140,644 over the last ninety days. 0.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages recently commented on TEL. Zacks Research raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $214.00 to $226.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Barclays cut their price target on shares of TE Connectivity from $302.00 to $297.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Oppenheimer boosted their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Jefferies Financial Group raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.57.
View Our Latest Analysis on TEL
About TE Connectivity
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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