abrdn plc Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

abrdn plc grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 55.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,007 shares of the electronics maker’s stock after purchasing an additional 49,049 shares during the period. abrdn plc’s holdings in TE Connectivity were worth $19,249,000 at the end of the most recent reporting period.

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

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $140.00 on Thursday. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The stock’s fifty day moving average price is $142.65 and its 200-day moving average price is $136.02. The firm has a market cap of $43.51 billion, a P/E ratio of 13.28, a P/E/G ratio of 2.04 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

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

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. TE Connectivity’s dividend payout ratio is presently 22.39%.

Wall Street Analyst Weigh In

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

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’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 completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.