Duff & Phelps Investment Management Co. Purchases 1,264 Shares of TE Connectivity Ltd. (NYSE:TEL)

Duff & Phelps Investment Management Co. lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 42.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,225 shares of the electronics maker’s stock after acquiring an additional 1,264 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in TE Connectivity were worth $604,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TEL. Vanguard Group Inc. boosted its position in TE Connectivity by 14.2% during 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 lifted its stake in shares of TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 period. Bank of New York Mellon Corp grew its stake in TE Connectivity by 15.0% in 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 during the 4th quarter valued at $508,199,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $142.04 on Friday. 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 price is $149.32 and its 200-day moving average price is $148.38. The stock has a market cap of $42.38 billion, a P/E ratio of 22.69, a price-to-earnings-growth 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 (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during 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 company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.00%. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of analyst reports. Truist Financial cut their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Bank of America increased 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average price target of $167.00.

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.