International Assets Investment Management LLC Acquires New Holdings in TE Connectivity Ltd. (NYSE:TEL)

International Assets Investment Management LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 76,573 shares of the electronics maker’s stock, valued at approximately $10,759,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after buying an additional 41,198 shares during the period. SG Americas Securities LLC raised its position in shares of TE Connectivity by 518.3% during the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after purchasing an additional 130,515 shares during the period. Patten Group Inc. bought a new position in shares of TE Connectivity in the fourth quarter valued at $220,000. Asio Capital LLC acquired a new position in TE Connectivity during the 4th quarter valued at about $2,150,000. Finally, Boston Trust Walden Corp raised its position in TE Connectivity by 6.1% in the 4th quarter. Boston Trust Walden Corp now owns 384,804 shares of the electronics maker’s stock valued at $54,065,000 after buying an additional 22,031 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. StockNews.com started coverage on shares of TE Connectivity in a research note on Tuesday, April 30th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 1.4 %

TE Connectivity stock opened at $142.00 on Monday. The business has a 50-day simple moving average of $142.46 and a two-hundred day simple moving average of $136.96. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market cap of $43.48 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 earnings per share. Analysts predict that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

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.