Vanguard Group Inc. Acquires 4,029,596 Shares of TE Connectivity Ltd. (NYSE:TEL)

Vanguard Group Inc. raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 14.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,378,995 shares of the electronics maker’s stock after purchasing an additional 4,029,596 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of TE Connectivity worth $4,629,225,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its holdings in TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Meyer Handelman Co. grew its holdings in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after purchasing an additional 9,175 shares during the period. Central Pacific Bank Trust Division bought a new stake in TE Connectivity in the fourth quarter valued at approximately $2,920,000. Finally, abrdn plc acquired a new stake in TE Connectivity in the fourth quarter worth $15,739,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Up 2.0 %

NYSE:TEL opened at $149.04 on Tuesday. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The firm has a market capitalization of $44.47 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth 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 stock’s 50 day moving average price is $149.07 and its two-hundred day moving average price is $148.35.

TE Connectivity (NYSE:TEL) last issued 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. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 earnings per share. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.91%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on 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 transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was 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. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TEL shares. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company boosted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report 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. According to MarketBeat, TE Connectivity has a consensus rating of “Hold” and a consensus price target of $167.00.

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.