Capital International Inc. CA increased its position in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 425.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,058 shares of the electronics maker’s stock after purchasing an additional 104,496 shares during the period. Capital International Inc. CA’s holdings in TE Connectivity were worth $28,332,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of TEL. Vanguard Group Inc. increased its position in shares of TE Connectivity by 1.1% during the second quarter. Vanguard Group Inc. now owns 38,292,320 shares of the electronics maker’s stock worth $6,458,766,000 after acquiring an additional 410,910 shares in the last quarter. J. Safra Sarasin Holding AG lifted its position in TE Connectivity by 132.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 13,446 shares of the electronics maker’s stock valued at $2,952,000 after acquiring an additional 7,664 shares in the last quarter. Principal Financial Group Inc. boosted its stake in TE Connectivity by 7.0% during the 3rd quarter. Principal Financial Group Inc. now owns 336,394 shares of the electronics maker’s stock valued at $73,849,000 after purchasing an additional 21,882 shares during the last quarter. Nordea Investment Management AB boosted its stake in TE Connectivity by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 1,662,615 shares of the electronics maker’s stock valued at $363,215,000 after purchasing an additional 56,833 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in TE Connectivity by 11.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,231 shares of the electronics maker’s stock worth $10,369,000 after purchasing an additional 4,813 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.
TE Connectivity Stock Performance
TEL stock opened at $203.31 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The firm has a market cap of $59.66 billion, a PE ratio of 29.34, a P/E/G ratio of 1.57 and a beta of 1.23. The business has a 50 day moving average of $227.25 and a 200-day moving average of $226.07. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $250.67.
TE Connectivity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, February 20th. TE Connectivity’s payout ratio is presently 40.98%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TEL. Oppenheimer raised their target price on TE Connectivity from $270.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Truist Financial upped their price target on TE Connectivity from $240.00 to $244.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of TE Connectivity in a research note on Monday, November 17th. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $245.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group set a $306.00 target price on shares of TE Connectivity in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $251.93.
Check Out Our Latest Stock Report on TEL
Insider Buying and Selling
In other TE Connectivity news, EVP John S. Jenkins sold 6,155 shares of TE Connectivity stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $222.81, for a total value of $1,371,395.55. Following the sale, the executive vice president owned 21,810 shares of the company’s stock, valued at approximately $4,859,486.10. The trade was a 22.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Reuben M. Shaffer sold 1,425 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $234.23, for a total transaction of $333,777.75. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,945 shares of company stock valued at $7,528,616. 0.60% of the stock is owned by insiders.
About TE Connectivity
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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