Ninety One SA PTY Ltd Has $6.61 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Ninety One SA PTY Ltd lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 28.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,029 shares of the electronics maker’s stock after purchasing an additional 10,283 shares during the period. Ninety One SA PTY Ltd’s holdings in TE Connectivity were worth $6,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TEL. Norges Bank purchased a new position in shares of TE Connectivity during the fourth quarter valued at $584,131,000. Moneta Group Investment Advisors LLC grew its stake in TE Connectivity by 119,784.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock valued at $372,832,000 after purchasing an additional 3,244,957 shares in the last quarter. State Street Corp grew its stake in TE Connectivity by 19.5% in the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after purchasing an additional 2,309,835 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in TE Connectivity in the third quarter valued at about $165,640,000. Finally, Morgan Stanley grew its stake in TE Connectivity by 56.5% in the fourth quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock valued at $409,818,000 after purchasing an additional 1,289,023 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of NYSE TEL traded down $0.62 during trading hours on Thursday, hitting $140.86. 973,987 shares of the company’s stock were exchanged, compared to its average volume of 2,087,974. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The stock has a market capitalization of $43.78 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 2.03 and a beta of 1.39. The company’s 50-day moving average price is $142.77 and its 200-day moving average price is $135.37.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 EPS. On average, sell-side analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.85%. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEL. Citigroup began coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 target price on the stock. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. JPMorgan Chase & Co. boosted their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Robert W. Baird boosted their price target on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus boosted their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.86% of the company’s stock.

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.