Groupama Asset Managment Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Groupama Asset Managment increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 63.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,276 shares of the electronics maker’s stock after acquiring an additional 2,442 shares during the period. Groupama Asset Managment’s holdings in TE Connectivity were worth $897,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TEL. Front Row Advisors LLC increased its position in shares of TE Connectivity by 53.6% during the 4th quarter. Front Row Advisors LLC now owns 1,419 shares of the electronics maker’s stock valued at $203,000 after purchasing an additional 495 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $1,352,000. Geode Capital Management LLC lifted its holdings in shares of TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock worth $857,499,000 after acquiring an additional 33,340 shares during the last quarter. Diametric Capital LP purchased a new position in shares of TE Connectivity during the 4th quarter worth about $290,000. Finally, National Bank of Canada FI grew its holdings in TE Connectivity by 4,246.9% during the 4th quarter. National Bank of Canada FI now owns 238,209 shares of the electronics maker’s stock valued at $34,057,000 after purchasing an additional 232,729 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock 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. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven research 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 an average target price of $167.00.

TE Connectivity Stock Up 1.1 %

TE Connectivity stock opened at $142.23 on Thursday. TE Connectivity Ltd. has a twelve month low of $131.42 and a twelve month high of $159.98. The business has a fifty day moving average of $148.83 and a two-hundred day moving average of $148.34. The firm has a market cap of $42.43 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.11 and a beta of 1.25. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data 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. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

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.