Minneapolis Portfolio Management Group LLC Purchases New Position in TE Connectivity Ltd. (NYSE:TEL)

Minneapolis Portfolio Management Group LLC purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 113,589 shares of the electronics maker’s stock, valued at approximately $16,240,000. TE Connectivity makes up about 2.1% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in TE Connectivity by 117.6% in the fourth 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 last quarter. Fairway Wealth LLC purchased a new stake in TE Connectivity in the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the fourth 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.

TE Connectivity Stock Down 0.1 %

TEL opened at $146.10 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm’s fifty day moving average is $148.91 and its 200 day moving average is $148.34. The stock has a market cap of $43.59 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its 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 company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the company earned $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is currently 45.37%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial dropped their price target 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. Bank of America lifted their price target 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. Wells Fargo & Company lifted 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. Finally, Citigroup lifted their price target 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. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $167.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on 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 in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

TE Connectivity Company 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.