Nuveen Asset Management LLC Purchases 39,715 Shares of TE Connectivity Ltd. (NYSE:TEL)

Nuveen Asset Management LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,583,503 shares of the electronics maker’s stock after purchasing an additional 39,715 shares during the quarter. Nuveen Asset Management LLC’s holdings in TE Connectivity were worth $226,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. 180 Wealth Advisors LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth about $211,000. Fifth Third Wealth Advisors LLC increased its position in shares of TE Connectivity by 8.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,767 shares of the electronics maker’s stock valued at $682,000 after buying an additional 378 shares during the period. Assenagon Asset Management S.A. raised its holdings in TE Connectivity by 0.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,368 shares of the electronics maker’s stock worth $3,484,000 after purchasing an additional 157 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $1,023,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in TE Connectivity by 35.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 792 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.8%

TE Connectivity stock opened at $163.58 on Friday. The business’s 50-day simple moving average is $141.62 and its two-hundred day simple moving average is $146.56. The company has a market cap of $48.51 billion, a PE ratio of 26.13, a PEG ratio of 2.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $163.61.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 dividend yield of 1.74%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is presently 62.42%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Truist Financial dropped their price target on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Robert W. Baird increased their price target on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.50.

Insider Activity

In other news, SVP Malavika Sagar sold 3,125 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president now directly owns 5,927 shares in the company, valued at $948,320. The trade was a 34.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at approximately $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,062,559 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

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.