NEOS Investment Management LLC Grows Stake in TE Connectivity Ltd. (NYSE:TEL)

NEOS Investment Management LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 29.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,254 shares of the electronics maker’s stock after purchasing an additional 3,728 shares during the quarter. NEOS Investment Management LLC’s holdings in TE Connectivity were worth $2,324,000 at the end of the most recent quarter.

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

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TEL. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Truist Financial lowered their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Down 3.4 %

TEL opened at $142.04 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The stock 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. The business has a 50 day simple moving average of $149.32 and a 200-day simple moving average of $148.38.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.84 earnings per share. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. TE Connectivity’s dividend payout ratio (DPR) 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.