TE Connectivity Ltd. $TEL Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in TE Connectivity Ltd. by 28.4%, selling 7,005 shares, leaving them with 17,634 shares valued at approximately $2.5 million.
• Several other institutional investors have also adjusted their holdings in TE Connectivity, with the company now having 91.43% of its stock owned by institutional investors.
• Analyst ratings for TE Connectivity have improved, with multiple firms upgrading their ratings and establishing target prices above $170, contributing to a consensus rating of "Moderate Buy."

Gulf International Bank UK Ltd reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 28.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,634 shares of the electronics maker's stock after selling 7,005 shares during the quarter. Gulf International Bank UK Ltd's holdings in TE Connectivity were worth $2,492,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TEL. Brighton Jones LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $820,000. Federated Hermes Inc. boosted its holdings in shares of TE Connectivity by 863.4% in the fourth quarter. Federated Hermes Inc. now owns 1,185 shares of the electronics maker's stock valued at $169,000 after purchasing an additional 1,062 shares during the period. Townsquare Capital LLC boosted its holdings in shares of TE Connectivity by 16.9% in the fourth quarter. Townsquare Capital LLC now owns 2,007 shares of the electronics maker's stock valued at $287,000 after purchasing an additional 290 shares during the period. Mariner LLC boosted its holdings in shares of TE Connectivity by 1.4% in the fourth quarter. Mariner LLC now owns 33,099 shares of the electronics maker's stock valued at $4,732,000 after purchasing an additional 454 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $606,000. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TEL. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Friday, April 25th. Truist Financial boosted their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Bank of America boosted their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.55.

TE Connectivity Stock Performance

NYSE:TEL traded up $0.94 during mid-day trading on Monday, hitting $203.65. The company's stock had a trading volume of 1,161,515 shares, compared to its average volume of 1,842,981. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $212.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The stock has a market cap of $60.17 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 2.41 and a beta of 1.23. The business's fifty day moving average is $182.62 and its two-hundred day moving average is $159.81.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company posted $1.91 EPS. The company's revenue for the quarter was up 13.9% on a year-over-year basis. Analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued 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 1.4%. TE Connectivity's dividend payout ratio is presently 58.80%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at approximately $977,155.20. This represents a 29.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 25,976 shares of the company's stock, 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 have sold a total of 138,795 shares of company stock worth $26,401,597 in the last quarter. Insiders own 0.90% of the company's stock.

About TE Connectivity

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.