Wellington Management Group LLP Purchases Shares of 6,362,160 TE Connectivity Ltd. (NYSE:TEL)

Wellington Management Group LLP acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 6,362,160 shares of the electronics maker’s stock, valued at approximately $909,598,000.

A number of other large investors have also made changes to their positions in the stock. Pinnacle Bancorp Inc. bought a new position in TE Connectivity during the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. increased its position in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at $43,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the fourth quarter worth $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TEL. Truist Financial dropped their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, 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 note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Price Performance

Shares of TEL stock opened at $141.36 on Tuesday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market capitalization of $42.18 billion, a PE ratio of 22.58, a PEG ratio of 2.11 and a beta of 1.32. 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 stock’s fifty day moving average is $149.23 and its 200-day moving average is $148.42.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS 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 given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.01%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

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.