Ninety One UK Ltd Sells 68,424 Shares of TE Connectivity Ltd. (NYSE:TEL)

Ninety One UK Ltd decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 764,281 shares of the electronics maker's stock after selling 68,424 shares during the period. Ninety One UK Ltd owned approximately 0.26% of TE Connectivity worth $108,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its stake in shares of TE Connectivity by 0.3% in the 1st quarter. Crossmark Global Holdings Inc. now owns 81,161 shares of the electronics maker's stock valued at $11,470,000 after purchasing an additional 234 shares during the last quarter. Security National Bank of SO Dak increased its stake in shares of TE Connectivity by 1.0% in the 1st quarter. Security National Bank of SO Dak now owns 10,815 shares of the electronics maker's stock valued at $1,528,000 after purchasing an additional 103 shares during the last quarter. Financial Counselors Inc. increased its stake in shares of TE Connectivity by 4.3% in the 1st quarter. Financial Counselors Inc. now owns 165,572 shares of the electronics maker's stock valued at $23,399,000 after purchasing an additional 6,780 shares during the last quarter. Callan Capital LLC increased its stake in shares of TE Connectivity by 5.3% in the 1st quarter. Callan Capital LLC now owns 2,180 shares of the electronics maker's stock valued at $308,000 after purchasing an additional 109 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of TE Connectivity by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,303,733 shares of the electronics maker's stock valued at $184,244,000 after purchasing an additional 80,195 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent analyst reports. Truist Financial decreased their price target on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research report on Thursday, April 24th. Citigroup reduced their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $163.90.

TE Connectivity Trading Up 0.7%

TEL traded up $1.24 during midday trading on Tuesday, hitting $172.38. 1,498,299 shares of the company were exchanged, compared to its average volume of 1,712,835. The firm has a market capitalization of $51.12 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.28 and a beta of 1.23. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $175.03. The firm's 50 day moving average price is $161.65 and its 200-day moving average price is $150.09. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS 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. Stockholders 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 dividend yield of 1.65%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is 62.42%.

Insider Buying and Selling

In other news, EVP John S. Jenkins sold 30,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president directly owned 24,625 shares of the company's stock, valued at $3,678,728.75. The trade was a 54.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were 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 directly owned 25,976 shares in the company, valued at $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. Insiders sold 187,775 shares of company stock worth $29,596,059 over the last three months. Insiders own 0.90% of the company's stock.

TE Connectivity 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.