TE Connectivity Ltd. (NYSE:TEL) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 18.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,806 shares of the electronics maker’s stock after purchasing an additional 1,844 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in TE Connectivity were worth $1,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TEL. International Assets Investment Management LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at $10,759,000. Nordea Investment Management AB grew its position in TE Connectivity by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after purchasing an additional 41,198 shares during the last quarter. SG Americas Securities LLC grew its position in TE Connectivity by 518.3% during the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after purchasing an additional 130,515 shares during the last quarter. Patten Group Inc. purchased a new position in TE Connectivity during the 4th quarter worth $220,000. Finally, Ninety One North America Inc. grew its position in TE Connectivity by 39.4% during the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock worth $8,611,000 after purchasing an additional 17,322 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

TE Connectivity Stock Performance

Shares of NYSE:TEL traded down $0.74 on Thursday, reaching $138.71. 200,527 shares of the company’s stock were exchanged, compared to its average volume of 2,178,046. The firm has a market capitalization of $42.48 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 2.08 and a beta of 1.36. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The business’s 50-day moving average is $142.56 and its two-hundred day moving average is $136.62. 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 earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 7.52 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently announced 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 is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.87%. TE Connectivity’s dividend payout ratio is presently 21.59%.

Analysts Set New Price Targets

Several analysts have recently weighed in on TEL shares. JPMorgan Chase & Co. lowered 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, April 25th. Jefferies Financial Group began coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Stifel Nicolaus lifted their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, StockNews.com started coverage on shares of TE Connectivity in a research report on Tuesday. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price 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.