Wafra Inc. reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 57.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,973 shares of the electronics maker's stock after selling 107,649 shares during the quarter. Wafra Inc.'s holdings in TE Connectivity were worth $11,096,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. JFS Wealth Advisors LLC grew its position in shares of TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock valued at $26,000 after acquiring an additional 91 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its holdings 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 acquiring an additional 190 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in TE Connectivity during the 4th quarter valued at $41,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of TE Connectivity in the fourth quarter valued at $45,000. Institutional investors own 91.43% of the company's stock.
Insider Activity
In related news, Director Mark Trudeau sold 7,044 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.86% of the company's stock.
TE Connectivity Price Performance
TE Connectivity stock traded down $0.08 during midday trading on Friday, reaching $151.01. The company's stock had a trading volume of 1,048,205 shares, compared to its average volume of 2,129,081. The stock has a market cap of $46.24 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.23 and a beta of 1.36. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $152.14. The business has a 50-day moving average price of $143.44 and a 200-day moving average price of $138.78.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm's revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. On average, sell-side analysts predict that TE Connectivity Ltd. will post 7.5 EPS for the current year.
TE Connectivity Announces Dividend
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 paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity's dividend payout ratio is currently 21.59%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus lifted their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. Jefferies Financial Group began coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a "buy" rating and a $180.00 target price on the stock. Finally, Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $153.89.
Read Our Latest Analysis on TE Connectivity
TE Connectivity Profile
(
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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