Two Sigma Investments LP Sells 461,858 Shares of TE Connectivity Ltd. (NYSE:TEL)

Two Sigma Investments LP reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 95.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,661 shares of the electronics maker's stock after selling 461,858 shares during the period. Two Sigma Investments LP's holdings in TE Connectivity were worth $3,383,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its position in TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after acquiring an additional 75 shares during the period. Modera Wealth Management LLC raised its position in TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock worth $409,000 after acquiring an additional 78 shares during the period. King Luther Capital Management Corp increased its stake in shares of TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock worth $2,002,000 after purchasing an additional 83 shares in the last quarter. Ascent Wealth Partners LLC increased its stake in shares of TE Connectivity by 1.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock worth $1,231,000 after purchasing an additional 85 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of TE Connectivity by 6.0% in the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock worth $240,000 after purchasing an additional 95 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 1.4%

NYSE TEL traded up $2.30 during trading on Tuesday, hitting $162.17. The company had a trading volume of 1,471,888 shares, compared to its average volume of 1,705,126. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $164.11. The company has a market cap of $48.09 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The company's fifty day moving average is $145.29 and its 200-day moving average is $147.29.

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

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. TE Connectivity's dividend payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

TEL has been the subject of several recent research reports. The Goldman Sachs Group reduced their target price on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wall Street Zen lowered shares of TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Truist Financial lowered their price target on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.50.

Insider Activity at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the sale, the senior vice president now directly owns 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,675 shares of company stock valued at $27,369,059. 0.90% of the stock is owned by insiders.

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.