Sciencast Management LP Raises Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Sciencast Management LP lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 161.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,930 shares of the electronics maker’s stock after purchasing an additional 11,699 shares during the quarter. Sciencast Management LP’s holdings in TE Connectivity were worth $2,706,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TEL. PNC Financial Services Group Inc. boosted its holdings in shares of TE Connectivity by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 116,966 shares of the electronics maker’s stock valued at $17,661,000 after purchasing an additional 889 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of TE Connectivity by 2.1% during the third quarter. King Luther Capital Management Corp now owns 13,923 shares of the electronics maker’s stock worth $2,102,000 after purchasing an additional 288 shares during the period. Charles Schwab Investment Management Inc. grew its position in TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after purchasing an additional 9,864 shares during the period. First County Bank CT raised its position in shares of TE Connectivity by 27.8% in the third quarter. First County Bank CT now owns 2,571 shares of the electronics maker’s stock worth $388,000 after acquiring an additional 559 shares during the period. Finally, Studio Investment Management LLC raised its position in TE Connectivity by 6.4% during the third quarter. Studio Investment Management LLC now owns 2,520 shares of the electronics maker’s stock worth $380,000 after acquiring an additional 152 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.1 %

Shares of TE Connectivity stock opened at $146.10 on Friday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a 50 day moving average of $148.91 and a 200 day moving average of $148.33. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $43.59 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $167.00.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.