Transcend Capital Advisors LLC Sells 5,860 Shares of TE Connectivity Ltd. (NYSE:TEL)

Transcend Capital Advisors LLC reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,391 shares of the electronics maker's stock after selling 5,860 shares during the period. Transcend Capital Advisors LLC's holdings in TE Connectivity were worth $2,458,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CNB Bank grew its stake in shares of TE Connectivity by 11.9% in the 1st quarter. CNB Bank now owns 5,435 shares of the electronics maker's stock valued at $768,000 after purchasing an additional 580 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in TE Connectivity by 0.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 139,758 shares of the electronics maker's stock valued at $19,751,000 after buying an additional 760 shares in the last quarter. Golden State Wealth Management LLC grew its position in TE Connectivity by 508.2% in the first quarter. Golden State Wealth Management LLC now owns 1,849 shares of the electronics maker's stock valued at $262,000 after acquiring an additional 1,545 shares during the period. Spire Wealth Management raised its stake in TE Connectivity by 10.8% during the first quarter. Spire Wealth Management now owns 933 shares of the electronics maker's stock worth $132,000 after acquiring an additional 91 shares in the last quarter. Finally, Field & Main Bank lifted its holdings in shares of TE Connectivity by 10.2% during the first quarter. Field & Main Bank now owns 1,085 shares of the electronics maker's stock valued at $153,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Truist Financial decreased their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. UBS Group lifted their target price on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Robert W. Baird increased their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $162.50.

Insider Transactions at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity 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 sale, the executive vice president now owns 24,625 shares of the company's stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Aaron Kyle Stucki sold 5,000 shares of TE Connectivity stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider now owns 23,646 shares in the company, valued at $3,783,360. The trade was a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock worth $29,596,059 in the last quarter. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $166.85 on Friday. 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 firm has a 50 day simple moving average of $157.63 and a 200 day simple moving average of $149.05. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $170.23. The firm has a market cap of $49.48 billion, a P/E ratio of 36.67, a P/E/G ratio of 2.21 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period last year, the firm earned $1.86 EPS. The business's revenue for the quarter was up 4.4% on a year-over-year basis. 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 announced 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 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

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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