Optiver Holding B.V. Purchases New Shares in TE Connectivity Ltd. (NYSE:TEL)

Optiver Holding B.V. purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 925 shares of the electronics maker’s stock, valued at approximately $132,000.

A number of other large investors also recently made changes to their positions in TEL. Central Pacific Bank Trust Division purchased a new stake in TE Connectivity during the fourth quarter worth about $2,920,000. Meyer Handelman Co. increased its holdings in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after buying an additional 9,175 shares during the last quarter. abrdn plc purchased a new stake in TE Connectivity during the fourth quarter worth about $15,739,000. Truist Financial Corp increased its stake in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after purchasing an additional 31,991 shares in the last quarter. Finally, Carnegie Investment Counsel increased its stake in shares of TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after purchasing an additional 4,913 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 0.4 %

NYSE TEL opened at $144.94 on Tuesday. The stock’s 50-day simple moving average is $141.23 and its two-hundred day simple moving average is $146.05. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98. 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 $43.24 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. Research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.96%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 62.42%.

Analyst Ratings Changes

A number of research firms have recently commented on TEL. Robert W. Baird raised their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $159.50.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated 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 transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

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.