Ninety One UK Ltd trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 764,281 shares of the electronics maker's stock after selling 68,424 shares during the quarter. Ninety One UK Ltd owned 0.26% of TE Connectivity worth $108,008,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. increased its stake in shares of TE Connectivity by 0.3% during the first quarter. Crossmark Global Holdings Inc. now owns 81,161 shares of the electronics maker's stock worth $11,470,000 after acquiring an additional 234 shares during the period. Security National Bank of SO Dak increased its stake in shares of TE Connectivity by 1.0% during the first quarter. Security National Bank of SO Dak now owns 10,815 shares of the electronics maker's stock worth $1,528,000 after acquiring an additional 103 shares during the period. Financial Counselors Inc. increased its stake in shares of TE Connectivity by 4.3% during the first quarter. Financial Counselors Inc. now owns 165,572 shares of the electronics maker's stock worth $23,399,000 after acquiring an additional 6,780 shares during the period. Callan Capital LLC increased its stake in shares of TE Connectivity by 5.3% during the first quarter. Callan Capital LLC now owns 2,180 shares of the electronics maker's stock worth $308,000 after acquiring an additional 109 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in TE Connectivity by 6.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,303,733 shares of the electronics maker's stock worth $184,244,000 after buying an additional 80,195 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Price Performance
Shares of NYSE TEL traded up $2.11 on Friday, hitting $177.14. The company's stock had a trading volume of 1,542,540 shares, compared to its average volume of 1,712,222. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $179.00. The company has a market capitalization of $52.53 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. The stock has a 50 day moving average of $163.83 and a 200-day moving average of $150.83.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) 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 the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on TEL. UBS Group upped their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Citigroup upgraded shares of TE Connectivity from a "neutral" rating to a "buy" rating and upped their target price for the stock from $150.00 to $200.00 in a research report on Friday. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research report on Thursday, April 24th. Bank of America upped their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Truist Financial lowered their target price on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $171.70.
Read Our Latest Report on TEL
Insider Buying and Selling at TE Connectivity
In related news, insider Aaron Kyle Stucki sold 13,100 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the transaction, the insider owned 23,657 shares of the company's stock, valued at approximately $4,021,690. This represents a 35.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president directly owned 24,625 shares in the company, valued at $3,678,728.75. The trade was a 54.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,775 shares of company stock valued at $29,596,059. 0.90% of the stock is owned by corporate insiders.
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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