TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,828 shares of the electronics maker’s stock after buying an additional 4,888 shares during the period. Orion Portfolio Solutions LLC’s holdings in TE Connectivity were worth $6,981,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Algert Global LLC raised its holdings in shares of TE Connectivity by 17.0% during the third quarter. Algert Global LLC now owns 3,857 shares of the electronics maker’s stock valued at $582,000 after buying an additional 560 shares during the last quarter. Public Sector Pension Investment Board increased its position in TE Connectivity by 13.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker’s stock valued at $1,974,000 after acquiring an additional 1,600 shares during the period. Cobblestone Capital Advisors LLC NY boosted its position in TE Connectivity by 6.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,941 shares of the electronics maker’s stock worth $293,000 after acquiring an additional 120 shares during the period. Kestra Investment Management LLC bought a new position in shares of TE Connectivity in the third quarter worth $1,473,000. Finally, Atom Investors LP increased its holdings in shares of TE Connectivity by 238.1% during the third quarter. Atom Investors LP now owns 4,707 shares of the electronics maker’s stock valued at $711,000 after purchasing an additional 3,315 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

Shares of TEL opened at $142.04 on Friday. 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 firm has a market cap of $42.38 billion, a PE ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The firm’s 50 day moving average price is $149.32 and its 200 day moving average price is $148.41.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating 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%. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business 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 is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 45.37%.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEL. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. 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 note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Citigroup increased their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.00.

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.