Y Intercept Hong Kong Ltd decreased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,437 shares of the electronics maker's stock after selling 1,569 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in TE Connectivity were worth $344,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new position in TE Connectivity during the fourth quarter valued at $909,598,000. Geode Capital Management LLC increased its position in TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock worth $857,499,000 after purchasing an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. increased its position in TE Connectivity by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after purchasing an additional 592,072 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in TE Connectivity by 15.3% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock worth $555,303,000 after purchasing an additional 516,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in TE Connectivity by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,224,564 shares of the electronics maker's stock worth $461,013,000 after purchasing an additional 30,793 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on TEL. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Wall Street Zen raised TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Truist Financial increased their price objective on TE Connectivity from $156.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Citigroup increased their price objective on TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Robert W. Baird increased their target price on TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and an average target price of $194.80.
Check Out Our Latest Research Report on TEL
Insider Activity
In other news, EVP John S. Jenkins sold 45,850 shares of TE Connectivity stock in a transaction on Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the completion of the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at approximately $5,154,751.25. This trade represents a 65.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aaron Kyle Stucki sold 52,900 shares of TE Connectivity stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $192.78, for a total value of $10,198,062.00. Following the completion of the sale, the insider directly owned 23,667 shares of the company's stock, valued at $4,562,524.26. This trade represents a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,470 shares of company stock worth $45,313,205. 0.90% of the stock is currently owned by insiders.
TE Connectivity Price Performance
Shares of TE Connectivity stock traded down $4.10 during midday trading on Friday, hitting $201.65. 2,931,353 shares of the company were exchanged, compared to its average volume of 2,090,393. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The firm has a market cap of $59.58 billion, a P/E ratio of 41.75, a PEG ratio of 2.46 and a beta of 1.23. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $212.76. The firm has a 50 day simple moving average of $174.32 and a 200-day simple moving average of $155.97.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. TE Connectivity's revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.91 EPS. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is currently 58.80%.
About TE Connectivity
(
Free Report)
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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