Northern Trust Corp Raises Holdings in TE Connectivity Ltd. (NYSE:TEL)

Northern Trust Corp raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,691,050 shares of the electronics maker’s stock after acquiring an additional 610,571 shares during the period. Northern Trust Corp owned approximately 0.90% of TE Connectivity worth $384,739,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TEL. Wellington Management Group LLP acquired a new position in TE Connectivity during the fourth quarter valued at approximately $909,598,000. Vanguard Group Inc. lifted its holdings in shares of TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. Norges Bank acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $508,199,000. Clearbridge Investments LLC raised its stake in shares of TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the period. Finally, Amundi acquired a new position in shares of TE Connectivity during the fourth quarter worth $159,992,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TEL shares. UBS Group reaffirmed a “buy” rating and set a $163.00 price target (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Citigroup reduced their price target on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Truist Financial decreased their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average price target of $159.50.

TE Connectivity Stock Up 0.3 %

NYSE:TEL opened at $145.34 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $141.02 and a 200-day moving average of $146.04. The firm has a market capitalization of $43.36 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business earned $1.86 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.95%. TE Connectivity’s payout ratio is currently 62.42%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.