Carnegie Investment Counsel Sells 2,019 Shares of TE Connectivity Ltd. (NYSE:TEL)

Carnegie Investment Counsel decreased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,022 shares of the electronics maker's stock after selling 2,019 shares during the quarter. Carnegie Investment Counsel's holdings in TE Connectivity were worth $16,538,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TEL. Millstone Evans Group LLC acquired a new position in TE Connectivity in the 1st quarter worth about $32,000. North Capital Inc. acquired a new position in shares of TE Connectivity during the 1st quarter valued at about $46,000. Global X Japan Co. Ltd. acquired a new position in shares of TE Connectivity during the 1st quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC increased its holdings in shares of TE Connectivity by 650.8% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after acquiring an additional 423 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TEL. Wells Fargo & Company increased their price objective on TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a report on Thursday. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Bank of America raised their target price on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Truist Financial raised their target price on TE Connectivity from $156.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity currently has an average rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Stock Up 1.0%

TEL traded up $2.06 on Friday, hitting $207.66. 2,069,221 shares of the company were exchanged, compared to its average volume of 1,993,890. The stock's fifty day moving average is $169.73 and its 200-day moving average is $153.84. The company has a market cap of $61.58 billion, a PE ratio of 42.99, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.08 and a current ratio of 1.52. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $208.17.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 58.80%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the sale, the executive vice president owned 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Aaron Kyle Stucki sold 52,900 shares of the 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 transaction, the insider owned 23,667 shares of the company's stock, valued at $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 90 days, insiders have sold 240,675 shares of company stock worth $39,794,121. 0.90% of the stock is owned by insiders.

TE Connectivity Company 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.