Welch & Forbes LLC Acquires Shares of 1,499 TE Connectivity Ltd. (NYSE:TEL)

Welch & Forbes LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,499 shares of the electronics maker’s stock, valued at approximately $211,000.

Several other hedge funds have also recently made changes to their positions in TEL. Invesco Ltd. raised its stake in TE Connectivity by 3.5% in the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after acquiring an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TE Connectivity by 3.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock worth $558,537,000 after purchasing an additional 145,605 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after purchasing an additional 51,866 shares during the period. Morgan Stanley lifted its stake in shares of TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after buying an additional 390,723 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in TE Connectivity by 3.6% in the 3rd quarter. Northern Trust Corp now owns 2,672,201 shares of the electronics maker’s stock worth $330,097,000 after buying an additional 93,882 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

Shares of NYSE TEL traded up $0.25 during mid-day trading on Wednesday, reaching $143.49. 387,114 shares of the company were exchanged, compared to its average volume of 2,153,167. 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 price is $142.44 and its 200 day moving average price is $137.30. The stock has a market capitalization of $43.94 billion, a PE ratio of 13.08, a PEG ratio of 2.09 and a beta of 1.36. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.51 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Insider Transactions at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent research reports. Stifel Nicolaus increased their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. StockNews.com started coverage on TE Connectivity in a report on Wednesday. They set a “buy” rating on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Jefferies Financial Group started coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. Finally, Truist Financial boosted 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $153.89.

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.