Pictet Asset Management Holding SA Increases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Pictet Asset Management Holding SA lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,791 shares of the electronics maker’s stock after buying an additional 20,068 shares during the quarter. Pictet Asset Management Holding SA owned about 0.12% of TE Connectivity worth $50,296,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Algert Global LLC boosted its stake in TE Connectivity by 17.0% in the third quarter. Algert Global LLC now owns 3,857 shares of the electronics maker’s stock valued at $582,000 after acquiring an additional 560 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of TE Connectivity by 13.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker’s stock valued at $1,974,000 after purchasing an additional 1,600 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in TE Connectivity by 6.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,941 shares of the electronics maker’s stock worth $293,000 after buying an additional 120 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in TE Connectivity in the third quarter valued at approximately $1,473,000. Finally, Atom Investors LP boosted its holdings in shares of TE Connectivity by 238.1% in the third quarter. Atom Investors LP now owns 4,707 shares of the electronics maker’s stock valued at $711,000 after acquiring an additional 3,315 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Finally, Truist Financial dropped their target price 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $142.04 on Friday. The company’s fifty day moving average is $149.32 and its two-hundred day moving average is $148.41. 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 firm has a market capitalization of $42.38 billion, a P/E ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. 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.