Man Group plc lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,035 shares of the electronics maker's stock after selling 95,246 shares during the period. Man Group plc's holdings in TE Connectivity were worth $14,445,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in TE Connectivity during the fourth quarter valued at approximately $1,803,000. NorthRock Partners LLC raised its stake in shares of TE Connectivity by 26.2% during the fourth quarter. NorthRock Partners LLC now owns 2,162 shares of the electronics maker's stock worth $309,000 after buying an additional 449 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of TE Connectivity by 2.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,583,503 shares of the electronics maker's stock worth $226,393,000 after buying an additional 39,715 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in TE Connectivity during the 4th quarter worth $14,240,000. Finally, Obermeyer Wealth Partners increased its position in shares of TE Connectivity by 4.9% during the fourth quarter. Obermeyer Wealth Partners now owns 2,913 shares of the electronics maker's stock worth $416,000 after acquiring an additional 136 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at TE Connectivity
In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president now owns 5,927 shares in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their position. The transaction was disclosed in a document filed 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 dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock worth $27,062,559 over the last quarter. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Stock Performance
TE Connectivity stock traded down $3.40 during trading hours on Wednesday, hitting $159.50. The company had a trading volume of 1,939,416 shares, compared to its average volume of 1,701,043. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market cap of $47.30 billion, a PE ratio of 25.48, a PEG ratio of 2.11 and a beta of 1.24. The firm has a 50-day moving average of $142.84 and a 200 day moving average of $146.80. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $164.11.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is 62.42%.
Wall Street Analyst Weigh In
Several brokerages recently commented on TEL. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price objective on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial lowered their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. StockNews.com cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.30.
Get Our Latest Analysis on TE Connectivity
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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