TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP cut its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,400 shares of the electronics maker's stock after selling 41,100 shares during the period. Two Sigma Advisers LP's holdings in TE Connectivity were worth $9,493,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. abrdn plc purchased a new position in TE Connectivity during the fourth quarter valued at $15,739,000. Truist Financial Corp lifted its holdings in TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock valued at $18,509,000 after purchasing an additional 31,991 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in TE Connectivity by 67.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker's stock valued at $6,329,000 after purchasing an additional 17,866 shares in the last quarter. Merit Financial Group LLC purchased a new position in TE Connectivity during the fourth quarter valued at $237,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in TE Connectivity by 14.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after purchasing an additional 841 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TEL shares. 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 report on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Citigroup decreased their price target on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. raised their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $160.30.

Insider Transactions at TE Connectivity

In other news, SVP Malavika Sagar sold 3,125 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 value of $500,000.00. Following the transaction, the senior vice president now directly owns 5,927 shares of the company's stock, valued at $948,320. The trade was a 34.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the insider now directly 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. In the last quarter, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is currently owned by insiders.

TE Connectivity Stock Down 0.3%

TE Connectivity stock traded down $0.42 during trading on Wednesday, reaching $160.95. The stock had a trading volume of 197,155 shares, compared to its average volume of 1,696,224. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $164.11. The business has a 50 day moving average price of $144.06 and a 200 day moving average price of $147.01. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $47.73 billion, a PE ratio of 25.69, a P/E/G ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 62.42%.

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.