TE Connectivity Ltd. (NYSE:TEL) Stake Cut by Guggenheim Capital LLC

Guggenheim Capital LLC cut its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,567 shares of the electronics maker's stock after selling 24,724 shares during the quarter. Guggenheim Capital LLC's holdings in TE Connectivity were worth $1,082,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in TE Connectivity in the 4th quarter valued at about $2,920,000. Meyer Handelman Co. lifted its holdings in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after purchasing an additional 9,175 shares in the last quarter. abrdn plc purchased a new position in TE Connectivity in the 4th quarter valued at about $15,739,000. Truist Financial Corp lifted its holdings in TE Connectivity by 32.8% in the 4th 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. Finally, Carnegie Investment Counsel lifted its holdings in TE Connectivity by 4.3% in the 4th quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker's stock valued at $17,019,000 after purchasing an additional 4,913 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Stock Up 0.4 %

NYSE:TEL traded up $0.57 during trading hours on Monday, hitting $144.94. The stock had a trading volume of 1,485,882 shares, compared to its average volume of 1,685,122. 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 1-year low of $116.30 and a 1-year high of $159.98. The business has a 50 day simple moving average of $141.23 and a two-hundred day simple moving average of $146.05. The company has a market cap of $43.24 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

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 (EPS) for the quarter, beating 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 company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the company earned $1.86 earnings per share. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Analyst Ratings Changes

A number of research firms have issued reports on TEL. JPMorgan Chase & Co. upped their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a report on Thursday. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Friday. Finally, Truist Financial cut 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. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $159.50.

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.