Siemens Fonds Invest GmbH Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Siemens Fonds Invest GmbH bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,208 shares of the electronics maker’s stock, valued at approximately $602,000.

A number of other hedge funds also recently bought and sold shares of the business. Security National Bank of Sioux City Iowa IA acquired a new position in shares of TE Connectivity during the 4th quarter valued at about $2,004,000. Security National Bank of SO Dak acquired a new stake in shares of TE Connectivity during the 4th quarter worth about $1,531,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of TE Connectivity by 2.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock worth $534,000 after acquiring an additional 75 shares during the last quarter. Royal Bank of Canada boosted its position in shares of TE Connectivity by 95.4% during the 4th quarter. Royal Bank of Canada now owns 1,277,319 shares of the electronics maker’s stock worth $182,618,000 after purchasing an additional 623,652 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in shares of TE Connectivity during the fourth quarter worth $792,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $164.03 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $164.11. The company has a 50-day simple moving average of $142.01 and a 200-day simple moving average of $146.60. The stock has a market capitalization of $48.64 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share 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 company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm earned $1.86 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,062,559 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on TEL shares. Wells Fargo & Company increased their price objective on TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. UBS Group restated a “buy” rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Citigroup decreased their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Truist Financial decreased their price target on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

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.