Navalign LLC Acquires 106 Shares of TE Connectivity Ltd. (NYSE:TEL)

Navalign LLC raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,998 shares of the electronics maker’s stock after acquiring an additional 106 shares during the quarter. Navalign LLC’s holdings in TE Connectivity were worth $1,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of TE Connectivity during the fourth quarter worth $584,131,000. Moneta Group Investment Advisors LLC lifted its position in TE Connectivity by 119,784.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock valued at $372,832,000 after acquiring an additional 3,244,957 shares in the last quarter. State Street Corp lifted its position in TE Connectivity by 19.5% in the 1st quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after acquiring an additional 2,309,835 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in TE Connectivity in the 3rd quarter valued at $165,640,000. Finally, Morgan Stanley lifted its position in TE Connectivity by 56.5% in the 4th quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock valued at $409,818,000 after acquiring an additional 1,289,023 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 0.2 %

NYSE TEL traded up $0.31 on Thursday, hitting $145.24. The company’s stock had a trading volume of 1,543,662 shares, compared to its average volume of 2,182,256. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $146.84. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $141.57 and its 200 day moving average is $133.36. The firm has a market cap of $45.14 billion, a PE ratio of 13.78, a PEG ratio of 2.02 and a beta of 1.40.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 earnings per share. As a group, analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a share repurchase plan on Tuesday, December 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 22.39%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

TEL has been the topic of several recent research reports. Citigroup initiated coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target on the stock. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Truist Financial boosted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company assumed coverage on shares of TE Connectivity in a research note on Friday, December 15th. They set an “equal weight” rating and a $144.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $146.67.

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.