OVERSEA CHINESE BANKING Corp Ltd Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 22.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,466 shares of the electronics maker's stock after selling 9,719 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in TE Connectivity were worth $4,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Cibc World Market Inc. lifted its stake in shares of TE Connectivity by 63.8% during the 1st quarter. Cibc World Market Inc. now owns 11,366 shares of the electronics maker's stock worth $1,489,000 after acquiring an additional 4,427 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of TE Connectivity by 16.2% during the 1st quarter. Cetera Investment Advisers now owns 25,817 shares of the electronics maker's stock worth $3,382,000 after acquiring an additional 3,598 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of TE Connectivity by 23.0% during the 1st quarter. Dakota Wealth Management now owns 4,259 shares of the electronics maker's stock worth $558,000 after acquiring an additional 797 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of TE Connectivity by 108.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker's stock worth $437,000 after acquiring an additional 1,739 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in TE Connectivity by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker's stock valued at $3,617,824,000 after purchasing an additional 308,580 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 0.0 %

Shares of TEL traded up $0.07 during trading hours on Friday, hitting $140.55. The company had a trading volume of 4,138,032 shares, compared to its average volume of 1,692,016. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98. The company's fifty day moving average price is $142.65 and its two-hundred day moving average price is $135.70. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $43.68 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39.

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 for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the business earned $1.53 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.85%. TE Connectivity's dividend payout ratio (DPR) is 22.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TEL shares. Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $169.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Truist Financial lifted their target price on TE Connectivity from $148.00 to $153.00 and gave the company a "hold" rating in a research report on Thursday, January 25th. StockNews.com started coverage on TE Connectivity in a research report on Sunday, April 14th. They set a "buy" rating for the company. Finally, Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a "buy" rating and a $180.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.30.

Insider Buying and Selling

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

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.