EdgeRock Capital LLC Invests $41,000 in TE Connectivity Ltd. (NYSE:TEL)

EdgeRock Capital LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 290 shares of the electronics maker’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in TE Connectivity in the fourth quarter worth about $10,759,000. Nordea Investment Management AB lifted its stake in shares of TE Connectivity by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after purchasing an additional 41,198 shares during the period. SG Americas Securities LLC grew its position in shares of TE Connectivity by 518.3% during the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after acquiring an additional 130,515 shares during the period. Patten Group Inc. acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $220,000. Finally, Ninety One North America Inc. grew its position in shares of TE Connectivity by 39.4% in the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after purchasing an additional 17,322 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE:TEL traded up $1.56 during mid-day trading on Wednesday, hitting $144.80. The stock had a trading volume of 1,277,209 shares, compared to its average volume of 2,163,551. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The stock has a market capitalization of $44.34 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 2.09 and a beta of 1.36. The company has a 50 day simple moving average of $142.44 and a 200-day simple moving average of $137.30. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company earned $1.65 earnings per share. TE Connectivity’s revenue was down 4.6% compared to the same quarter last year. On average, research analysts expect that TE Connectivity Ltd. will post 7.51 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEL. Truist Financial upped their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Robert W. Baird dropped their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average price target of $153.89.

Insider Buying and Selling

In other news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.86% 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.