J. Safra Sarasin Holding AG reduced its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 36.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,897 shares of the electronics maker's stock after selling 5,627 shares during the period. J. Safra Sarasin Holding AG's holdings in TE Connectivity were worth $1,399,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in TEL. Millstone Evans Group LLC acquired a new position in TE Connectivity during the 1st quarter valued at approximately $32,000. North Capital Inc. acquired a new stake in TE Connectivity during the 1st quarter worth approximately $46,000. Global X Japan Co. Ltd. acquired a new position in TE Connectivity during the 1st quarter worth approximately $47,000. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of TE Connectivity by 650.8% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after buying an additional 423 shares in the last quarter. Finally, Ancora Advisors LLC raised its position in TE Connectivity by 150.0% during the 4th quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock worth $71,000 after buying an additional 300 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.
Insider Transactions at TE Connectivity
In other news, CFO Heath A. Mitts sold 53,306 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the transaction, the chief financial officer owned 45,503 shares in the company, valued at $7,244,532.63. This trade represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aaron Kyle Stucki sold 52,900 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the completion of the sale, the insider owned 23,667 shares in the company, valued at approximately $4,562,524.26. The trade was a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,470 shares of company stock valued at $45,313,205. 0.90% of the stock is currently owned by corporate insiders.
TE Connectivity Stock Performance
Shares of TEL stock traded down $2.53 during trading on Tuesday, reaching $201.47. 2,062,220 shares of the company's stock were exchanged, compared to its average volume of 2,260,855. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $59.53 billion, a PE ratio of 41.71, a PEG ratio of 2.44 and a beta of 1.23. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $212.76. The firm's fifty day moving average price is $175.25 and its 200-day moving average price is $156.54.
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 for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. 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 previous year, the firm earned $1.91 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Dividend Announcement
The company 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 annualized dividend and a yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) is currently 58.80%.
Analyst Upgrades and Downgrades
TEL has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Truist Financial upped their target price on TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Friday, April 25th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $194.80.
Get Our Latest Stock 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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