Ninety One UK Ltd Has $235.93 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Ninety One UK Ltd lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,679,216 shares of the electronics maker’s stock after selling 171,650 shares during the quarter. Ninety One UK Ltd owned about 0.54% of TE Connectivity worth $235,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ninety One North America Inc. raised its stake in TE Connectivity by 39.4% in the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after purchasing an additional 17,322 shares in the last quarter. Federated Hermes Inc. raised its stake in TE Connectivity by 16.8% in the fourth quarter. Federated Hermes Inc. now owns 91,637 shares of the electronics maker’s stock valued at $12,875,000 after purchasing an additional 13,188 shares in the last quarter. Donaldson Capital Management LLC acquired a new position in TE Connectivity in the fourth quarter valued at about $220,000. Flputnam Investment Management Co. raised its stake in TE Connectivity by 7.6% in the fourth quarter. Flputnam Investment Management Co. now owns 28,726 shares of the electronics maker’s stock valued at $4,036,000 after purchasing an additional 2,021 shares in the last quarter. Finally, Legacy CG LLC raised its stake in TE Connectivity by 3.4% in the fourth quarter. Legacy CG LLC now owns 30,621 shares of the electronics maker’s stock valued at $4,302,000 after purchasing an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Stifel Nicolaus lifted 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. Truist Financial lifted their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.30.

TE Connectivity Trading Down 0.1 %

TEL traded down $0.13 during trading on Thursday, hitting $141.35. The company’s stock had a trading volume of 698,227 shares, compared to its average volume of 2,084,863. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average price is $142.77 and its 200-day moving average price is $135.37. The firm has a market capitalization of $43.93 billion, a P/E ratio of 13.42, a PEG ratio of 2.03 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. Analysts anticipate that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

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.