Loomis Sayles & Co. L P Acquires 123 Shares of TE Connectivity Ltd. (NYSE:TEL)

Loomis Sayles & Co. L P raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 500 shares of the electronics maker’s stock after buying an additional 123 shares during the period. Loomis Sayles & Co. L P’s holdings in TE Connectivity were worth $71,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter worth $26,000. SRS Capital Advisors Inc. raised its stake in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC purchased a new position in shares of TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC bought a new position in shares of TE Connectivity during the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the 4th quarter worth approximately $55,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Down 3.4 %

NYSE TEL opened at $142.04 on Monday. The stock has a 50 day moving average price of $149.32 and a 200-day moving average price of $148.44. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $42.38 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data 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 business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business earned $1.84 earnings per share. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS 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. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is presently 45.37%.

Analyst Ratings Changes

A number of research firms have weighed in on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Hold” and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred 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 owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

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.