Matrix Asset Advisors Inc. NY Has $12.58 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Matrix Asset Advisors Inc. NY cut its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,985 shares of the electronics maker's stock after selling 3,670 shares during the period. TE Connectivity makes up approximately 1.4% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 29th biggest position. Matrix Asset Advisors Inc. NY's holdings in TE Connectivity were worth $12,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vista Investment Management increased its position in shares of TE Connectivity by 0.5% during the 4th quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after purchasing an additional 70 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in TE Connectivity by 2.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after buying an additional 75 shares in the last quarter. Modera Wealth Management LLC grew its holdings in TE Connectivity by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock worth $409,000 after acquiring an additional 78 shares during the period. Wedmont Private Capital raised its position in TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after acquiring an additional 80 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its holdings 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 valued at $2,002,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. HSBC upgraded 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. Citigroup decreased their target price on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial reduced their target price on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.50.

TE Connectivity Stock Up 0.9%

Shares of TEL stock traded up $1.56 on Wednesday, reaching $168.04. 1,464,748 shares of the company's stock traded hands, compared to its average volume of 1,702,934. The business's 50 day moving average price is $155.26 and its two-hundred day moving average price is $148.68. The company has a market capitalization of $49.83 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $169.55.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.86 EPS. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling

In related news, insider Aaron Kyle Stucki sold 5,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $800,000.00. Following the transaction, the insider now owns 23,646 shares in the company, valued at approximately $3,783,360. This represents a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. The trade was a 34.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,675 shares of company stock worth $27,369,059. Corporate insiders own 0.90% of the company's stock.

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.