TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 43.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,039 shares of the electronics maker's stock after selling 37,656 shares during the quarter. Mackenzie Financial Corp's holdings in TE Connectivity were worth $6,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vista Investment Management lifted its holdings in TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after buying an additional 70 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after acquiring an additional 75 shares during the period. Modera Wealth Management LLC lifted its holdings in TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock valued at $409,000 after acquiring an additional 78 shares during the period. King Luther Capital Management Corp boosted its position in TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock worth $2,002,000 after purchasing an additional 83 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its holdings in shares of TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock valued at $1,231,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 now owns 24,625 shares of the company's stock, valued at $4,010,181.25. This trade represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,062,559 in the last quarter. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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 report on Thursday, April 10th. Citigroup cut their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Friday, April 25th. Truist Financial cut their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, UBS Group increased their target price on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research report on Friday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $162.50.

TE Connectivity Price Performance

TEL traded down $1.27 on Monday, hitting $158.80. 311,073 shares of the company's stock were exchanged, compared to its average volume of 1,701,355. The firm has a 50-day moving average price of $144.78 and a 200-day moving average price of $147.10. The stock has a market cap of $47.09 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.79%. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

TE Connectivity 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.