Two Sigma Advisers LP Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

Two Sigma Advisers LP lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 38.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Several other large investors have also recently bought and sold shares of the business. abrdn plc acquired a new position in shares of TE Connectivity during the 4th quarter worth $15,739,000. Truist Financial Corp grew its position in TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after buying an additional 31,991 shares during the period. First Citizens Bank & Trust Co. increased its holdings in TE Connectivity by 67.7% in 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 buying an additional 17,866 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $237,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after acquiring an additional 841 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEL. Robert W. Baird raised their price objective on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Citigroup cut their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the transaction, the executive vice president now owns 24,625 shares in the company, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 174,675 shares of company stock valued at $27,062,559. Company insiders own 0.90% of the company's stock.

TE Connectivity Trading Up 2.5%

Shares of NYSE:TEL traded up $3.91 during trading on Tuesday, reaching $161.47. The stock had a trading volume of 719,707 shares, compared to its average volume of 1,699,683. 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 $47.88 billion, a P/E ratio of 25.81, a PEG ratio of 2.11 and a beta of 1.24. The business has a fifty day moving average price of $143.76 and a 200-day moving average price of $146.91. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $164.11.

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

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.76%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

About TE Connectivity

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.