Commerzbank Aktiengesellschaft FI Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Commerzbank Aktiengesellschaft FI bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,848 shares of the electronics maker’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its position in TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 190 shares during the period. Arlington Trust Co LLC acquired a new position in TE Connectivity during the third quarter worth $35,000. Wetzel Investment Advisors Inc. purchased a new position in shares of TE Connectivity during the fourth quarter worth $45,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of TE Connectivity by 176.5% in the fourth 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.

Wall Street Analyst Weigh In

TEL has been the topic of several research reports. Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. 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 report on Thursday, January 25th. StockNews.com started coverage on shares of TE Connectivity in a research note on Monday. They set a “buy” rating on the stock. Finally, Truist Financial raised their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.30.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 2.3 %

Shares of NYSE:TEL opened at $143.77 on Tuesday. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company’s 50 day moving average is $142.66 and its two-hundred day moving average is $135.86. The company has a market cap of $44.68 billion, a PE ratio of 13.64, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $1.53 EPS. Equities analysts predict that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

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.