First Citizens Bank & Trust Co. Decreases Holdings in TE Connectivity Ltd. (NYSE:TEL)

First Citizens Bank & Trust Co. reduced its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,513 shares of the electronics maker's stock after selling 5,758 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in TE Connectivity were worth $5,443,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEL. SRS Capital Advisors Inc. raised its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC acquired a new stake in TE Connectivity in the fourth quarter worth $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the fourth quarter valued at $44,000. Deseret Mutual Benefit Administrators acquired a new position in shares of TE Connectivity during the fourth quarter valued at $57,000. Finally, Loomis Sayles & Co. L P grew its position in shares of TE Connectivity by 32.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock worth $71,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insiders Place Their Bets

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction that occurred on Friday, May 2nd. The shares were 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 approximately $3,678,728.75. The trade was a 54.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Price Performance

Shares of TEL stock traded up $0.23 during trading on Thursday, hitting $165.98. The company had a trading volume of 1,380,156 shares, compared to its average volume of 1,716,266. The firm has a market capitalization of $49.22 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock's 50-day moving average price is $148.66 and its 200 day moving average price is $147.93. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $167.94.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is currently 62.42%.

Analysts Set New Price Targets

TEL has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company increased their price target on TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wall Street Zen cut shares of TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and a consensus target price of $162.50.

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.