EdgeRock Capital LLC Invests $41,000 in TE Connectivity Ltd. (NYSE:TEL)

EdgeRock Capital LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 290 shares of the electronics maker’s stock, valued at approximately $41,000.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in shares of TE Connectivity by 3.5% during the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after buying an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TE Connectivity by 3.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after buying an additional 145,605 shares in the last quarter. Impax Asset Management Group plc increased its position in TE Connectivity by 1.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after buying an additional 51,866 shares during the period. Morgan Stanley lifted its holdings in shares of TE Connectivity by 11.7% during the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after buying an additional 390,723 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of TE Connectivity by 3.6% in the third quarter. Northern Trust Corp now owns 2,672,201 shares of the electronics maker’s stock valued at $330,097,000 after acquiring an additional 93,882 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Robert W. Baird dropped their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Truist Financial increased their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, StockNews.com initiated coverage on TE Connectivity in a research report on Wednesday. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus target price of $153.89.

TE Connectivity Price Performance

TEL traded up $1.56 during trading hours on Wednesday, hitting $144.80. The company’s stock had a trading volume of 1,277,209 shares, compared to its average volume of 2,163,551. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $142.44 and its 200-day moving average price is $137.30. The stock has a market cap of $44.34 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 2.09 and a beta of 1.36.

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

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

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.