Duff & Phelps Investment Management Co. Purchases 1,264 Shares of TE Connectivity Ltd. (NYSE:TEL)

Duff & Phelps Investment Management Co. boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 42.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,225 shares of the electronics maker’s stock after buying an additional 1,264 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in TE Connectivity were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Norges Bank bought a new stake in shares of TE Connectivity in the fourth quarter worth about $508,199,000. Amundi purchased a new position in TE Connectivity during the 4th quarter valued at about $159,992,000. Nordea Investment Management AB bought a new position in TE Connectivity during the 4th quarter valued at approximately $149,211,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock worth $107,738,000 after buying an additional 722,565 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL opened at $142.04 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap 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’s 50 day moving average price is $149.32 and its 200-day moving average price is $148.38. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.

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

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a positive change 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%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

TEL has been the subject of a number of recent analyst reports. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research 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 report on Thursday, January 23rd. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird upped their target price on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Company 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.