Allspring Global Investments Holdings LLC Raises Holdings in TE Connectivity Ltd. (NYSE:TEL)

Allspring Global Investments Holdings LLC lifted its stake in TE Connectivity Ltd. (NYSE:TEL) by 35.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 77,490 shares of the electronics maker’s stock after acquiring an additional 20,407 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TE Connectivity were worth $10,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in TE Connectivity during the fourth quarter worth approximately $584,131,000. Moneta Group Investment Advisors LLC boosted its position in TE Connectivity by 119,784.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock worth $372,832,000 after purchasing an additional 3,244,957 shares in the last quarter. State Street Corp boosted its position in TE Connectivity by 19.5% during the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock worth $1,851,648,000 after purchasing an additional 2,309,835 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in TE Connectivity during the third quarter worth approximately $165,640,000. Finally, Morgan Stanley boosted its position in TE Connectivity by 56.5% during the fourth quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock worth $409,818,000 after purchasing an additional 1,289,023 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was 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 directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Up 0.5 %

Shares of NYSE:TEL opened at $142.79 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The firm has a market capitalization of $44.38 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The firm’s 50-day moving average is $142.78 and its two-hundred day moving average is $135.32. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 earnings per share. Analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Analyst Upgrades and Downgrades

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