TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,791 shares of the electronics maker’s stock after purchasing an additional 20,068 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TE Connectivity were worth $50,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its stake in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth $43,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity in the fourth quarter valued at $44,000. Finally, Hilltop National Bank purchased a new position in TE Connectivity during the fourth quarter worth about $55,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TEL. 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 increased their price target 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. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Truist Financial cut their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Down 3.4 %

NYSE TEL opened at $142.04 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The business has a 50 day moving average price of $149.32 and a two-hundred day moving average price of $148.41. The stock has a market cap of $42.38 billion, a PE ratio of 22.69, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $1.84 EPS. The business’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is currently 45.37%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

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.