Victory Capital Management Inc. Has $21.70 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Victory Capital Management Inc. boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 132.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,449 shares of the electronics maker’s stock after buying an additional 88,100 shares during the quarter. Victory Capital Management Inc.’s holdings in TE Connectivity were worth $21,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TEL. Jones Financial Companies Lllp raised its holdings in shares of TE Connectivity by 358.5% during the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $45,000. Exchange Traded Concepts LLC grew its stake in shares of TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in TE Connectivity in the fourth quarter worth approximately $48,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TEL. Truist Financial lifted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. StockNews.com initiated coverage on shares of TE Connectivity in a report on Wednesday. They issued a “buy” rating for the company. Stifel Nicolaus raised their target price on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. cut their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.89.

Insider Buying and Selling at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

TE Connectivity Stock Up 1.1 %

Shares of TEL stock opened at $144.80 on Thursday. The stock has a 50 day moving average of $142.44 and a 200-day moving average of $137.30. The firm has a market cap of $44.34 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. The firm 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 business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. On average, equities analysts predict that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.80%. TE Connectivity’s dividend payout ratio is 23.79%.

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.