Axiom Investors LLC DE Acquires 24,931 Shares of TE Connectivity Ltd. (NYSE:TEL)

Axiom Investors LLC DE boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 235,068 shares of the electronics maker’s stock after buying an additional 24,931 shares during the quarter. Axiom Investors LLC DE’s holdings in TE Connectivity were worth $33,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Modera Wealth Management LLC grew its holdings in shares of TE Connectivity by 2.8% during the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 78 shares during the period. King Luther Capital Management Corp increased its holdings in TE Connectivity by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after purchasing an additional 83 shares during the period. Ascent Wealth Partners LLC grew its holdings in TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after acquiring an additional 85 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of TE Connectivity by 6.0% during the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after acquiring an additional 95 shares in the last quarter. Finally, Callan Capital LLC lifted its position in shares of TE Connectivity by 5.4% during the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after buying an additional 106 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

TEL has been the subject of a number of recent research reports. 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 note on Thursday, January 23rd. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Bank of America increased their price target 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.00.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $142.04 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The business’s 50 day moving average is $149.32 and its two-hundred day moving average is $148.44. The company has a market cap of $42.38 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.11 and a beta of 1.32.

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, beating the consensus estimate 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 period in the previous year, the business earned $1.84 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

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

About TE Connectivity

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.