D. E. Shaw & Co. Inc. Has $108.38 Million Position in TE Connectivity Ltd. (NYSE:TEL)

D. E. Shaw & Co. Inc. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 24.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 758,062 shares of the electronics maker’s stock after buying an additional 146,837 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in TE Connectivity were worth $108,380,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TEL. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its holdings in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $44,000. Finally, Hilltop National Bank bought a new position in shares of TE Connectivity during the fourth quarter worth about $55,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

NYSE:TEL opened at $152.19 on Friday. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $159.98. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 2.11 and a beta of 1.24. The stock’s 50 day moving average price is $140.51 and its two-hundred day moving average price is $146.13. 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 (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm posted $1.86 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.87%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 62.42%.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research reports. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Friday, April 25th. Truist Financial reduced their target price on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. UBS Group restated a “buy” rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated 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 completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president now owns 24,625 shares in the company, valued at approximately $3,678,728.75. The trade was a 54.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.