Raymond James & Associates Sells 202,501 Shares of TE Connectivity Ltd. (NYSE:TEL)

Raymond James & Associates reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 453,373 shares of the electronics maker's stock after selling 202,501 shares during the period. Raymond James & Associates owned about 0.15% of TE Connectivity worth $65,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its position in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock worth $26,000 after buying an additional 91 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth about $30,000. Crewe Advisors LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth about $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock valued at $30,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TEL shares. 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. JPMorgan Chase & Co. reduced their target price on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a "buy" rating and a $180.00 price target on the stock. Stifel Nicolaus lifted their target price on TE Connectivity from $140.00 to $145.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.50.

TE Connectivity Price Performance

Shares of TE Connectivity stock traded up $1.99 on Friday, hitting $142.00. The company had a trading volume of 1,197,854 shares, compared to its average volume of 2,325,435. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company has a market cap of $43.48 billion, a PE ratio of 12.99, a PEG ratio of 2.06 and a beta of 1.36. The business has a 50-day simple moving average of $142.46 and a 200-day simple moving average of $136.77.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company earned $1.65 earnings per share. TE Connectivity's revenue was down 4.6% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 7.51 EPS for the current fiscal year.

TE Connectivity Announces Dividend

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 issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Friday, February 21st. TE Connectivity's payout ratio is 21.59%.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of the business's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares of the company's stock, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by company 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.