Flputnam Investment Management Co. Has $4.04 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Flputnam Investment Management Co. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 28,726 shares of the electronics maker’s stock after buying an additional 2,021 shares during the period. Flputnam Investment Management Co.’s holdings in TE Connectivity were worth $4,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legacy CG LLC lifted its stake in shares of TE Connectivity by 3.4% in the 4th quarter. Legacy CG LLC now owns 30,621 shares of the electronics maker’s stock valued at $4,302,000 after acquiring an additional 1,002 shares during the last quarter. Bison Wealth LLC lifted its stake in shares of TE Connectivity by 6.5% in the 4th quarter. Bison Wealth LLC now owns 7,005 shares of the electronics maker’s stock valued at $984,000 after acquiring an additional 429 shares during the last quarter. Carnegie Capital Asset Management LLC increased its holdings in TE Connectivity by 6.8% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 110,506 shares of the electronics maker’s stock valued at $15,526,000 after purchasing an additional 7,027 shares during the period. Vontobel Holding Ltd. increased its holdings in TE Connectivity by 2.1% in the fourth quarter. Vontobel Holding Ltd. now owns 76,781 shares of the electronics maker’s stock valued at $10,788,000 after purchasing an additional 1,577 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in TE Connectivity in the fourth quarter valued at $2,641,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 0.5 %

Shares of TEL stock traded up $0.77 during trading hours on Tuesday, reaching $142.79. The company had a trading volume of 248,958 shares, compared to its average volume of 2,084,574. The business has a fifty day simple moving average of $142.76 and a 200-day simple moving average of $135.19. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

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

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.82%. TE Connectivity’s dividend payout ratio is presently 22.39%.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Stifel Nicolaus increased their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Truist Financial increased their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. JPMorgan Chase & Co. increased their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Robert W. Baird increased their price target on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.30.

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.