TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 132.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,449 shares of the electronics maker’s stock after purchasing an additional 88,100 shares during the period. Victory Capital Management Inc.’s holdings in TE Connectivity were worth $21,700,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TEL. Jones Financial Companies Lllp raised its position in TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in TE Connectivity during the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. acquired a new stake in TE Connectivity in the fourth quarter valued at about $45,000. Exchange Traded Concepts LLC boosted its holdings in TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in TE Connectivity during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.1 %

Shares of TE Connectivity stock opened at $144.80 on Thursday. The business has a 50 day moving average price of $142.44 and a 200 day moving average price of $137.30. The company has a market capitalization of $44.34 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.09 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98.

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

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.80%. TE Connectivity’s dividend payout ratio (DPR) is presently 23.79%.

Insider Activity

In related news, Director Mark Trudeau sold 7,044 shares of the firm’s 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 sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird lowered their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial upped their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, StockNews.com started coverage on TE Connectivity in a research note on Wednesday. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.89.

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.