Haverford Trust Co Expands Stake in TE Connectivity Ltd.

Haverford Trust Co has increased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.1% in the fourth quarter, as indicated by its latest filing with the Securities and Exchange Commission. The firm now owns a total of 207,734 shares of the electronics manufacturer after acquiring an additional 2,240 shares during the quarter. By the end of the last quarter, Haverford Trust Co held approximately 0.07% of TE Connectivity, valued at around $29,700,000.

In addition to Haverford Trust Co, several other large investors have also made significant changes to their positions in TE Connectivity. Notably, Nomura Asset Management Co. Ltd. increased its ownership by 4.1% in the third quarter, bringing its total to 243,274 shares, valued at $36,732,000 after purchasing an additional 9,670 shares. Similarly, Glenmede Trust Co. NA raised its holdings by 13.9% during the same period, leading to ownership of 194,264 shares worth $29,322,000 after buying an extra 23,755 shares. Meyer Handelman Co. also increased its stake by 9.9%, resulting in ownership of 101,640 shares valued at $14,531,000 after an additional purchase of 9,175 shares. New stakes were also established by Central Pacific Bank Trust Division and abrdn plc, with investments valued at $2,920,000 and approximately $15,739,000, respectively. Overall, institutional investors control around 91.43% of the company's stock.

TE Connectivity Stock Overview

On Monday, shares of TE Connectivity (NYSE:TEL) opened at $146.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10, and a current ratio of 1.68. For context, TE Connectivity has recorded a low of $137.61 and a high of $159.98 over the past fifty-two weeks. The firm holds a market capitalization of $43.59 billion, with a price-to-earnings (P/E) ratio of 23.34 and a PEG ratio of 2.11, alongside a beta of 1.32. The stock's fifty-day moving average price is $148.91, and its two-hundred-day moving average price stands at $148.34.

Recently, TE Connectivity reported its quarterly earnings on January 22nd. The company showed earnings of $1.95 per share (EPS), exceeding analysts' expectations of $1.89 by $0.06. TE Connectivity achieved a return on equity of 18.82% and a net profit margin of 12.10%. Revenue for the quarter amounted to $3.84 billion, slightly lower than the anticipated $3.92 billion. When compared to the same quarter of the previous year, this reflects a 0.1% increase. Analysts predict that TE Connectivity Ltd. will report an EPS of 8.05 for the current fiscal year.

Dividend Declaration from TE Connectivity

Additionally, the company has declared a quarterly dividend that is scheduled to be paid on Tuesday, June 10th. Shareholders recorded on Wednesday, May 21st, will receive a dividend of $0.71, translating into an annualized dividend of $2.84 and a yield of 1.94%. This marks an increase from the previous quarterly dividend of $0.65. TE Connectivity's payout ratio currently stands at 45.37%.

Insider Transactions at TE Connectivity

In other developments, Shadrak W. Kroeger, an insider at TE Connectivity, sold 25,000 shares of the company's stock on March 4th at an average price of $146.77. The total proceeds from this sale amounted to $3,669,250. Following this transaction, Kroeger holds 25,976 shares valued at approximately $3,812,497.52. This sale indicates a reduction of 49.04% in their position, and the sale has been disclosed in an official filing with the Securities and Exchange Commission.

Analyst Ratings Updates

Recently, several analysts have issued reports on TE Connectivity shares. Robert W. Baird increased its target price for TE Connectivity from $162.00 to $168.00 while assigning an "outperform" rating. Conversely, Truist Financial lowered its price target from $165.00 to $163.00, maintaining a "hold" rating. Wells Fargo & Company also updated their price target, increasing it from $151.00 to $155.00 and giving the stock an "equal weight" rating. In another change, Hsbc Global Research upgraded TE Connectivity from a "moderate sell" to a "hold" rating. Overall, market sentiment is mixed, with seven analysts rating the stock as a hold and six giving it a buy rating. As per data from MarketBeat.com, TE Connectivity currently boasts an average rating of "Hold" with a consensus target price of $167.00.

Introduction to TE Connectivity

TE Connectivity Ltd., along with its subsidiaries, specializes in manufacturing and selling connectivity and sensor solutions across various regions, including Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three primary segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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