DnB Asset Management AS Acquires 1,231 Shares of TE Connectivity Ltd. (NYSE:TEL)

DnB Asset Management AS lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,525 shares of the electronics maker’s stock after buying an additional 1,231 shares during the quarter. DnB Asset Management AS’s holdings in TE Connectivity were worth $8,224,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. State Street Corp boosted its position in shares of TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after buying an additional 75,658 shares during the last quarter. Bank of New York Mellon Corp increased its position in TE Connectivity by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock valued at $536,083,000 after buying an additional 488,680 shares in the last quarter. Finally, Norges Bank bought a new stake in TE Connectivity in the fourth quarter worth $508,199,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL opened at $142.04 on Friday. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The business has a fifty day moving average of $149.32 and a 200 day moving average of $148.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market capitalization of $42.38 billion, a P/E ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released 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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America upped their target price 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. HSBC raised 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 report on Thursday, January 23rd. Finally, Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. 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 data from MarketBeat, TE Connectivity has an average rating of “Hold” and an average target price of $167.00.

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.