Ninety One North America Inc. Has $8.61 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Ninety One North America Inc. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 39.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 61,289 shares of the electronics maker’s stock after purchasing an additional 17,322 shares during the quarter. Ninety One North America Inc.’s holdings in TE Connectivity were worth $8,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in shares of TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 190 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at approximately $30,000. Arlington Trust Co LLC acquired a new position in shares of TE Connectivity in the 3rd quarter valued at approximately $35,000. Money Concepts Capital Corp lifted its stake in TE Connectivity by 101.3% in the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 162 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on TEL shares. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 target price on the stock. 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 target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity 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 value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

TE Connectivity Stock Performance

TEL traded down $0.03 during trading hours on Thursday, reaching $141.45. The company’s stock had a trading volume of 661,703 shares, compared to its average volume of 2,084,548. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company’s 50-day moving average is $142.77 and its 200-day moving average is $135.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The firm has a market cap of $43.96 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share 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 business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the business earned $1.53 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

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

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.