Fidelis Capital Partners LLC Buys New Stake in TE Connectivity Ltd. (NYSE:TEL)

Fidelis Capital Partners LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,330 shares of the electronics maker’s stock, valued at approximately $468,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after purchasing an additional 308,580 shares during the last quarter. State Street Corp boosted its stake in shares of TE Connectivity by 19.5% during the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock worth $1,851,648,000 after buying an additional 2,309,835 shares during the period. Geode Capital Management LLC boosted its stake in shares of TE Connectivity by 1.2% during the first quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock worth $697,471,000 after buying an additional 62,134 shares during the period. Norges Bank acquired a new stake in shares of TE Connectivity during the fourth quarter worth about $584,131,000. Finally, Invesco Ltd. boosted its stake in shares of TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after buying an additional 154,496 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Sunday, April 14th. They set a “buy” rating for the company. Citigroup initiated 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 for the company. Robert W. Baird raised their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Truist Financial raised their price objective 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. Finally, Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

TE Connectivity Price Performance

Shares of TEL stock traded up $0.59 during midday trading on Friday, reaching $141.07. 625,733 shares of the company traded hands, compared to its average volume of 2,086,508. The firm’s 50 day simple moving average is $142.72 and its two-hundred day simple moving average is $135.40. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-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 firm has a market cap of $43.84 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.39.

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

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’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 transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.