Polymer Capital Management HK LTD Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Polymer Capital Management HK LTD purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,600 shares of the electronics maker’s stock, valued at approximately $944,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its position 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 valued at $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new position in shares of TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the fourth quarter worth approximately $55,000. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Stock Performance

NYSE:TEL opened at $121.92 on Monday. The firm’s fifty day simple moving average is $147.64 and its 200 day simple moving average is $148.07. TE Connectivity Ltd. has a twelve month low of $118.28 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $36.38 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.33%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Truist Financial reduced their price target 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. Seven investment 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, the stock has a consensus rating of “Hold” and an average target price of $167.00.

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.