Heartland Advisors Inc. Has $4.39 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Heartland Advisors Inc. lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,668 shares of the electronics maker’s stock after selling 6,439 shares during the period. Heartland Advisors Inc.’s holdings in TE Connectivity were worth $4,385,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. DnB Asset Management AS grew its position in shares of TE Connectivity by 2.2% during the 4th quarter. DnB Asset Management AS now owns 57,525 shares of the electronics maker’s stock worth $8,224,000 after buying an additional 1,231 shares during the period. Orion Portfolio Solutions LLC grew its holdings in TE Connectivity by 11.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 48,828 shares of the electronics maker’s stock worth $6,981,000 after purchasing an additional 4,888 shares during the period. Pictet Asset Management Holding SA increased its stake in TE Connectivity by 6.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 351,791 shares of the electronics maker’s stock valued at $50,296,000 after purchasing an additional 20,068 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of TE Connectivity by 42.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 4,225 shares of the electronics maker’s stock valued at $604,000 after purchasing an additional 1,264 shares during the period. Finally, Norges Bank bought a new position in shares of TE Connectivity during the 4th quarter worth about $508,199,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TEL shares. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research note on Thursday, January 23rd. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $142.04 on Friday. The firm has a market cap of $42.38 billion, a P/E ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. 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 has a 50-day moving average of $149.32 and a 200 day moving average of $148.38.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping 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 firm posted $1.84 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is currently 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.