TIAA Trust National Association Purchases 251 Shares of TE Connectivity Ltd. (NYSE:TEL)

TIAA Trust National Association grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,122 shares of the electronics maker’s stock after buying an additional 251 shares during the quarter. TIAA Trust National Association’s holdings in TE Connectivity were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter worth $43,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity in the 4th quarter worth about $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Trading Down 3.4 %

Shares of TEL opened at $142.04 on Friday. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The stock has a market cap of $42.38 billion, a PE ratio of 22.69, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $149.32 and its 200-day moving average price is $148.38.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.00%. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

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.