Mesirow Financial Investment Management Inc. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,860 shares of the electronics maker's stock after selling 6,133 shares during the period. Mesirow Financial Investment Management Inc. owned 0.05% of TE Connectivity worth $21,602,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $909,598,000. Woodline Partners LP purchased a new stake in TE Connectivity in the fourth quarter valued at $127,351,000. GAMMA Investing LLC boosted its holdings in TE Connectivity by 21,927.9% in the first quarter. GAMMA Investing LLC now owns 703,350 shares of the electronics maker's stock valued at $99,397,000 after purchasing an additional 700,157 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in TE Connectivity by 1,089.8% in the fourth quarter. Point72 Asset Management L.P. now owns 730,864 shares of the electronics maker's stock valued at $104,492,000 after purchasing an additional 669,435 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of TE Connectivity by 95.4% during the 4th quarter. Royal Bank of Canada now owns 1,277,319 shares of the electronics maker's stock worth $182,618,000 after purchasing an additional 623,652 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on TEL. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. Truist Financial increased their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $194.80.
View Our Latest Research Report on TE Connectivity
Insider Buying and Selling
In other news, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Malavika Sagar sold 3,125 shares of TE Connectivity stock in a transaction dated 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 sale, the senior vice president directly owned 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. Insiders sold a total of 258,470 shares of company stock valued at $45,313,205 in the last quarter. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Stock Down 2.0%
NYSE:TEL traded down $4.10 during midday trading on Friday, hitting $201.65. 2,931,353 shares of the company were exchanged, compared to its average volume of 1,868,526. The company has a fifty day simple moving average of $173.44 and a 200 day simple moving average of $155.56. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $59.58 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.23.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. TE Connectivity's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.4%. TE Connectivity's payout ratio is currently 58.80%.
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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