Van ECK Associates Corp Buys 1,947 Shares of TE Connectivity Ltd. (NYSE:TEL)

Van ECK Associates Corp grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,465 shares of the electronics maker’s stock after acquiring an additional 1,947 shares during the period. Van ECK Associates Corp’s holdings in TE Connectivity were worth $5,966,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in TE Connectivity by 3.5% during the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after purchasing an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TE Connectivity by 3.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after buying an additional 145,605 shares during the period. Impax Asset Management Group plc raised its holdings in shares of TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after acquiring an additional 51,866 shares in the last quarter. Morgan Stanley grew its holdings in TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after acquiring an additional 390,723 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in TE Connectivity by 3.6% during the 3rd quarter. Northern Trust Corp now owns 2,672,201 shares of the electronics maker’s stock worth $330,097,000 after acquiring an additional 93,882 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 1.4 %

TEL stock opened at $142.00 on Friday. The stock has a market capitalization of $43.48 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $142.46 and a 200 day moving average of $136.77.

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

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 21.59%.

Analysts Set New Price Targets

A number of brokerages recently commented on TEL. Robert W. Baird reduced their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Truist Financial boosted their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Stifel Nicolaus raised their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.50.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.

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.