TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC reduced its holdings in TE Connectivity Ltd. by 2.8%, now owning approximately 212,119 shares valued at $29.98 million.
• TE Connectivity announced a quarterly dividend of $0.71 per share, set to be paid on September 12, with a yield of 1.4% and a payout ratio of 58.80%.
• The company reported $2.27 EPS for its latest quarter, exceeding estimates, with revenue of $4.53 billion, up 13.9% year-over-year.

Howland Capital Management LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,119 shares of the electronics maker's stock after selling 6,035 shares during the period. TE Connectivity makes up approximately 1.3% of Howland Capital Management LLC's holdings, making the stock its 23rd biggest position. Howland Capital Management LLC owned about 0.07% of TE Connectivity worth $29,977,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in shares of TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares during the last quarter. Vista Investment Management raised its position in shares of 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 purchasing an additional 70 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of 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 purchasing an additional 75 shares during the last quarter. Wedmont Private Capital boosted its position in shares of TE Connectivity by 4.3% in the 1st quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after purchasing an additional 80 shares during the period. Finally, AllSquare Wealth Management LLC increased its stake in TE Connectivity by 7.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock worth $180,000 after purchasing an additional 83 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $205.23 on Friday. The business has a fifty day simple moving average of $173.44 and a 200 day simple moving average of $155.56. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $212.76. The firm has a market cap of $60.64 billion, a price-to-earnings ratio of 42.49, a P/E/G ratio of 2.47 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $1.91 EPS. 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 Announces Dividend

The firm 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 dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio is 58.80%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares in the company, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the completion of the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. This represents a 65.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,470 shares of company stock worth $45,313,205 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEL has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research note on Thursday, April 24th. Truist Financial boosted their target price on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Bank of America lifted their price target on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.

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.

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