Duff & Phelps Investment Management Co. Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Duff & Phelps Investment Management Co. lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 139.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,469 shares of the electronics maker’s stock after purchasing an additional 2,602 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TE Connectivity were worth $628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in TE Connectivity in the fourth quarter valued at approximately $30,000. Arlington Trust Co LLC acquired a new stake in TE Connectivity during the third quarter worth approximately $35,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of TE Connectivity during the 4th quarter worth approximately $45,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of 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 buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TEL. Robert W. Baird reduced their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Truist Financial raised their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, StockNews.com assumed coverage on shares of TE Connectivity in a research report on Tuesday. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.50.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.86% of the stock is currently owned by company insiders.

TE Connectivity Stock Performance

NYSE:TEL opened at $141.47 on Wednesday. The firm has a market cap of $43.32 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The firm’s fifty day moving average price is $142.58 and its 200 day moving average price is $136.60.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 earnings per share. On average, sell-side analysts expect that TE Connectivity Ltd. will post 7.55 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

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.