Legacy CG LLC Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

Legacy CG LLC raised its position in TE Connectivity Ltd. (NYSE:TEL) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,621 shares of the electronics maker’s stock after buying an additional 1,002 shares during the period. TE Connectivity accounts for 1.6% of Legacy CG LLC’s investment portfolio, making the stock its 29th biggest holding. Legacy CG LLC’s holdings in TE Connectivity were worth $4,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth approximately $30,000. Arlington Trust Co LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter worth approximately $35,000. Money Concepts Capital Corp grew its stake in TE Connectivity by 101.3% in the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after buying an additional 162 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Citigroup started coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.30.

Insider Transactions at TE Connectivity

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

TE Connectivity Stock Down 0.8 %

NYSE:TEL traded down $1.13 during mid-day trading on Monday, hitting $141.85. 982,318 shares of the company’s stock were exchanged, compared to its average volume of 2,104,650. TE Connectivity Ltd. has a one year low of $115.00 and a one 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 business has a fifty day moving average price of $142.73 and a 200 day moving average price of $135.06. The company has a market cap of $44.09 billion, a PE ratio of 13.57, a P/E/G ratio of 2.04 and a beta of 1.39.

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

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.83%. TE Connectivity’s dividend payout ratio is presently 22.39%.

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.