Whittier Trust Co. of Nevada Inc. Purchases 3,421 Shares of TE Connectivity Ltd. (NYSE:TEL)

Whittier Trust Co. of Nevada Inc. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 475.1% during the fourth quarter, HoldingsChannel reports. The firm owned 4,141 shares of the electronics maker’s stock after buying an additional 3,421 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in TE Connectivity were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TEL. Amundi bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $159,992,000. Nordea Investment Management AB bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of TE Connectivity by 2,330.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after purchasing an additional 722,565 shares during the period. Franklin Resources Inc. raised its position in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares during the period. Finally, EdgePoint Investment Group Inc. raised its position in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.1 %

Shares of NYSE:TEL opened at $146.10 on Friday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company’s fifty day moving average is $148.91 and its 200-day moving average is $148.33. The company has a market capitalization of $43.59 billion, a PE ratio of 23.34, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal 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 1.94%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TEL shares. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity 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.