Argonautica Private Wealth Management Inc. Boosts Holdings in TE Connectivity Ltd. (NYSE:TEL)

Argonautica Private Wealth Management Inc. grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,479 shares of the electronics maker’s stock after purchasing an additional 78 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in TE Connectivity were worth $348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. raised its holdings in TE Connectivity by 3.5% in the third 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $558,537,000 after acquiring an additional 145,605 shares in the last quarter. Impax Asset Management Group plc raised its holdings in 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 acquiring an additional 51,866 shares in the last quarter. Morgan Stanley raised its holdings in TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in TE Connectivity by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 3,006,425 shares of the electronics maker’s stock valued at $371,384,000 after acquiring an additional 110,510 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

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

TE Connectivity Price Performance

Shares of NYSE TEL traded down $0.27 during trading on Friday, hitting $140.21. 2,653,836 shares of the company were exchanged, compared to its average volume of 2,201,407. The company has a market cap of $43.58 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.06 and a beta of 1.39. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm’s fifty day moving average price is $142.55 and its 200 day moving average price is $136.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. On average, sell-side analysts expect that TE Connectivity Ltd. will post 7.56 earnings per share 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. Investors of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio is presently 21.59%.

Analysts Set New Price Targets

TEL has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective on the stock. Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Stifel Nicolaus raised their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. StockNews.com began coverage on shares of TE Connectivity in a report on Monday, April 22nd. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.50.

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.