American Century Companies Inc. Purchases 114,318 Shares of TE Connectivity Ltd. (NYSE:TEL)

American Century Companies Inc. grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% in the fourth quarter, Holdings Channel reports. The fund owned 2,140,941 shares of the electronics maker’s stock after buying an additional 114,318 shares during the quarter. American Century Companies Inc.’s holdings in TE Connectivity were worth $306,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its position in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after acquiring an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Meyer Handelman Co. boosted its position in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after acquiring an additional 9,175 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in TE Connectivity in the fourth quarter worth $2,920,000. Finally, abrdn plc bought a new stake in TE Connectivity in the fourth quarter worth $15,739,000. 91.43% of the stock is currently owned by institutional investors.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on TEL shares. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $146.10 on Friday. The firm has a market cap of $43.59 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The stock’s fifty day moving average price is $148.91 and its 200-day moving average price is $148.33.

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

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. 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 1.94%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

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.