Flputnam Investment Management Co. Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

Flputnam Investment Management Co. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,726 shares of the electronics maker’s stock after purchasing an additional 2,021 shares during the period. Flputnam Investment Management Co.’s holdings in TE Connectivity were worth $4,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC grew its position in shares of TE Connectivity by 3.6% during the 2nd quarter. IHT Wealth Management LLC now owns 2,321 shares of the electronics maker’s stock valued at $325,000 after acquiring an additional 80 shares during the period. Vista Investment Management raised its position in shares of TE Connectivity by 0.7% during the 3rd quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock valued at $1,479,000 after buying an additional 84 shares during the period. Bison Wealth LLC raised its position in shares of TE Connectivity by 1.4% during the 3rd quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker’s stock valued at $812,000 after buying an additional 88 shares during the period. Caprock Group LLC raised its position in shares of TE Connectivity by 1.6% during the 4th quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker’s stock valued at $784,000 after buying an additional 88 shares during the period. Finally, GHP Investment Advisors Inc. increased its holdings in TE Connectivity by 14.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock valued at $92,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEL. Jefferies Financial Group began coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. Robert W. Baird boosted their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Truist Financial boosted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus boosted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.30.

TE Connectivity Stock Up 0.5 %

Shares of TEL traded up $0.77 during trading on Tuesday, reaching $142.79. The company’s stock had a trading volume of 248,958 shares, compared to its average volume of 2,084,574. The company has a fifty day moving average of $142.76 and a two-hundred day moving average of $135.19. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 2.04 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $1.53 EPS. TE Connectivity’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company 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 1.82%. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a document filed with the SEC, which is available through this link. Company 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.