Vest Financial LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 73.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,406 shares of the electronics maker's stock after acquiring an additional 3,148 shares during the quarter. Vest Financial LLC's holdings in TE Connectivity were worth $1,047,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp increased its holdings in shares of TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after acquiring an additional 31,991 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in TE Connectivity by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock worth $949,000 after buying an additional 841 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in TE Connectivity by 80.6% in the 4th quarter. Venturi Wealth Management LLC now owns 11,821 shares of the electronics maker's stock worth $1,690,000 after buying an additional 5,274 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV bought a new stake in TE Connectivity in the 4th quarter worth about $243,000. Finally, Congress Asset Management Co. increased its holdings in TE Connectivity by 3.5% in the 4th quarter. Congress Asset Management Co. now owns 97,044 shares of the electronics maker's stock worth $13,874,000 after buying an additional 3,309 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.
TE Connectivity Stock Performance
Shares of TEL stock traded down $0.69 during trading hours on Wednesday, reaching $165.70. 1,431,628 shares of the company traded hands, compared to its average volume of 1,717,610. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $167.91. 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 company has a market cap of $49.14 billion, a P/E ratio of 26.47, a P/E/G ratio of 2.11 and a beta of 1.23. The firm has a 50-day moving average price of $148.66 and a 200 day moving average price of $147.93.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the firm earned $1.86 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders 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 yield of 1.71%. TE Connectivity's payout ratio is presently 62.42%.
Insiders Place Their Bets
In related news, insider Aaron Kyle Stucki sold 5,000 shares of the business's 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 directly owns 23,646 shares of the company's stock, valued at approximately $3,783,360. The trade was a 17.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business'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 value of $3,975,750.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $4,130,963.28. This represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,675 shares of company stock worth $27,369,059. Corporate insiders own 0.90% of the company's stock.
Analyst Upgrades and Downgrades
TEL has been the subject of several research analyst reports. Wall Street Zen downgraded TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial reduced their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. UBS Group lifted their price objective on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, May 30th. 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. Finally, JPMorgan Chase & Co. boosted their price target on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $162.50.
Get Our Latest Analysis 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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