Atlantic Union Bankshares Corp Reduces Position in TE Connectivity Ltd. (NYSE:TEL)

Atlantic Union Bankshares Corp lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 19.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,089 shares of the electronics maker's stock after selling 1,446 shares during the quarter. Atlantic Union Bankshares Corp's holdings in TE Connectivity were worth $860,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. Wellington Management Group LLP purchased a new position in TE Connectivity during the 4th quarter worth approximately $909,598,000. Vanguard Group Inc. grew its stake in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares during the last quarter. Norges Bank purchased a new position in shares of TE Connectivity in the 4th quarter valued at approximately $508,199,000. Clearbridge Investments LLC grew its stake in shares of TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of TE Connectivity in the 4th quarter valued at approximately $127,351,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TEL shares. UBS Group lifted their price target on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Bank of America lifted their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Finally, Robert W. Baird lifted their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.10.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the sale, the executive vice president owned 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer directly owned 45,503 shares of the company's stock, valued at approximately $7,244,532.63. The trade was a 53.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,775 shares of company stock valued at $29,596,059 over the last ninety days. Company insiders own 0.90% of the company's stock.

TE Connectivity Trading Up 0.8%

Shares of NYSE TEL opened at $179.03 on Monday. The company has a market cap of $53.09 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $180.25. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock's 50 day simple moving average is $166.46 and its 200 day simple moving average is $152.09.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period last year, the firm earned $1.86 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

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.

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