Bessemer Group Inc. trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 449,281 shares of the electronics maker's stock after selling 29,407 shares during the quarter. Bessemer Group Inc. owned about 0.15% of TE Connectivity worth $63,493,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after purchasing an additional 841 shares in the last quarter. J. Safra Sarasin Holding AG lifted its holdings in shares of TE Connectivity by 128.4% in the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock valued at $2,219,000 after buying an additional 8,728 shares during the period. New York State Common Retirement Fund boosted its stake in TE Connectivity by 48.8% during the fourth quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock valued at $160,000 after buying an additional 368 shares in the last quarter. QRG Capital Management Inc. grew its holdings in TE Connectivity by 3.3% during the fourth quarter. QRG Capital Management Inc. now owns 108,161 shares of the electronics maker's stock worth $15,464,000 after acquiring an additional 3,432 shares during the period. Finally, Beverly Hills Private Wealth LLC raised its position in TE Connectivity by 61.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock worth $1,587,000 after acquiring an additional 4,214 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
TE Connectivity Stock Down 1.3%
Shares of TEL stock traded down $2.21 on Friday, reaching $166.85. 2,756,496 shares of the company's stock traded hands, compared to its average volume of 1,712,284. The business's 50 day moving average price is $156.88 and its two-hundred day moving average price is $148.94. The company has a market capitalization of $49.48 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $170.47.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.86 EPS. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.70%. TE Connectivity's payout ratio is 62.42%.
Insider Buying and Selling at TE Connectivity
In other news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $3,678,728.75. The trade was a 54.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $4,130,963.28. This represents a 49.04% 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 in the last quarter. Company insiders own 0.90% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on TEL. Citigroup lowered their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen downgraded TE Connectivity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.50.
Get Our Latest Report on TEL
TE Connectivity Company Profile
(
Free Report)
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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