TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,637 shares of the electronics maker’s stock after acquiring an additional 13,188 shares during the quarter. Federated Hermes Inc.’s holdings in TE Connectivity were worth $12,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of TE Connectivity by 3.5% in the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after acquiring an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA grew its position in TE Connectivity by 3.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after buying an additional 145,605 shares during the period. Impax Asset Management Group plc grew its position in TE Connectivity by 1.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after buying an additional 51,866 shares during the period. Morgan Stanley grew its position in TE Connectivity by 11.7% during the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after buying an additional 390,723 shares during the period. Finally, Bank of New York Mellon Corp grew its position in TE Connectivity by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after buying an additional 110,510 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $143.14 on Wednesday. The company’s 50-day moving average price is $142.71 and its 200-day moving average price is $136.00. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $44.49 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.04 and a beta of 1.39. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 22.39%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus raised their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com started coverage on shares of TE Connectivity in a report on Monday. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $153.30.

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.