TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Groupama Asset Managment

Groupama Asset Managment lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 63.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,276 shares of the electronics maker’s stock after buying an additional 2,442 shares during the period. Groupama Asset Managment’s holdings in TE Connectivity were worth $897,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after purchasing an additional 9,670 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of TE Connectivity during the fourth quarter worth about $2,920,000. Meyer Handelman Co. boosted its position in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares during the last quarter. abrdn plc acquired a new position in TE Connectivity in the 4th quarter worth approximately $15,739,000. Finally, Truist Financial Corp lifted its stake in TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after acquiring an additional 31,991 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value 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 represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 1.1 %

TEL stock opened at $142.23 on Thursday. TE Connectivity Ltd. has a 52 week low of $131.42 and a 52 week high of $159.98. 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 firm has a 50-day simple moving average of $148.83 and a 200-day simple moving average of $148.34. The stock has a market capitalization of $42.43 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business 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 business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued 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 dividend on an annualized basis and a dividend yield of 2.00%. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

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

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.