TE Connectivity Ltd. (NYSE:TEL) Stock Position Lifted by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,208,088 shares of the electronics maker’s stock after purchasing an additional 203,548 shares during the quarter. Franklin Resources Inc. owned about 1.08% of TE Connectivity worth $458,660,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new stake in TE Connectivity in the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity during the 4th quarter valued at $44,000. Finally, Hilltop National Bank acquired a new position in shares of TE Connectivity during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. 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 research report on Thursday, January 23rd. Wells Fargo & Company boosted 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. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report 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. According to MarketBeat.com, the company 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 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $141.36 on Tuesday. The company’s fifty day moving average is $149.23 and its two-hundred day moving average is $148.42. The company has a market cap of $42.18 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. 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 posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share 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. Investors of record on Wednesday, May 21st will be given 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 dividend on an annualized basis and a yield of 2.01%. TE Connectivity’s payout ratio is presently 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.