O Shaughnessy Asset Management LLC Acquires New Stake in TE Connectivity Ltd. (NYSE:TEL)

O Shaughnessy Asset Management LLC bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 34,454 shares of the electronics maker’s stock, valued at approximately $4,926,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity in the 4th quarter valued at approximately $55,000. 91.43% of the stock is currently owned by institutional investors.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

NYSE TEL opened at $142.23 on Thursday. The business’s fifty day moving average is $148.83 and its 200 day moving average is $148.34. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $42.43 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

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

Analyst Upgrades and Downgrades

TEL has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Truist Financial lowered 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 report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from 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.