Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 799,790 shares of the electronics maker's stock after selling 10,976 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of TE Connectivity worth $112,370,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock worth $30,000 after purchasing an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in TE Connectivity in the fourth quarter worth $30,000. Arlington Trust Co LLC bought a new stake in shares of TE Connectivity in the third quarter valued at $35,000. Money Concepts Capital Corp lifted its position in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker's stock valued at $37,000 after buying an additional 162 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker's stock worth $46,000 after acquiring an additional 210 shares during the period. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

NYSE TEL traded down $1.37 during trading on Wednesday, reaching $141.48. The company's stock had a trading volume of 1,865,297 shares, compared to its average volume of 2,104,117. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The stock has a market capitalization of $43.97 billion, a PE ratio of 13.42, a P/E/G ratio of 2.02 and a beta of 1.39. The firm has a fifty day moving average of $142.77 and a 200 day moving average of $135.37.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. Analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.84%. TE Connectivity's dividend payout ratio (DPR) is presently 22.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial boosted their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Stifel Nicolaus upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Citigroup began coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a "neutral" rating and a $146.00 target price on the stock. Jefferies Financial Group started coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a "buy" rating and a $180.00 price target for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $153.30.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares of the company's stock, valued at $4,386,096. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by insiders.

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.