Ontario Teachers Pension Plan Board Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Ontario Teachers Pension Plan Board purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,237 shares of the electronics maker’s stock, valued at approximately $606,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mariner LLC raised its holdings in TE Connectivity by 1.4% in the 4th quarter. Mariner LLC now owns 33,099 shares of the electronics maker’s stock valued at $4,732,000 after buying an additional 454 shares during the period. Barclays PLC raised its stake in shares of TE Connectivity by 41.4% in the 4th quarter. Barclays PLC now owns 850,457 shares of the electronics maker’s stock valued at $121,590,000 after acquiring an additional 249,113 shares during the period. LFL Advisers LLC increased its holdings in TE Connectivity by 1.2% in the 4th quarter. LFL Advisers LLC now owns 247,406 shares of the electronics maker’s stock valued at $35,372,000 after purchasing an additional 2,875 shares during the last quarter. SageView Advisory Group LLC lifted its stake in TE Connectivity by 40.1% during the fourth quarter. SageView Advisory Group LLC now owns 6,394 shares of the electronics maker’s stock worth $914,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in shares of TE Connectivity by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 161,042 shares of the electronics maker’s stock valued at $23,024,000 after buying an additional 1,359 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Stock Down 1.9 %

TE Connectivity stock opened at $127.09 on Thursday. The stock has a market cap of $37.92 billion, a PE ratio of 20.30, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock’s fifty day moving average is $143.72 and its two-hundred day moving average is $146.63. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98.

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 the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared 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. This represents a $2.84 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Citigroup cut their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday. Truist Financial decreased their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $159.20.

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.