Ossiam Lowers Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Ossiam lowered its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,779 shares of the electronics maker's stock after selling 4,409 shares during the period. Ossiam's holdings in TE Connectivity were worth $1,541,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TEL. Central Pacific Bank Trust Division purchased a new position in TE Connectivity during the 4th quarter worth $2,920,000. Meyer Handelman Co. increased its stake in shares of TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after acquiring an additional 9,175 shares during the period. abrdn plc purchased a new position in TE Connectivity during the fourth quarter worth about $15,739,000. Truist Financial Corp lifted its position in TE Connectivity by 32.8% in the fourth 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 during the period. Finally, Carnegie Investment Counsel boosted 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. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Price Performance

TE Connectivity stock traded up $1.06 during mid-day trading on Friday, hitting $144.58. 1,464,520 shares of the company were exchanged, compared to its average volume of 1,689,794. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $159.98. The business's 50 day simple moving average is $141.45 and its two-hundred day simple moving average is $146.08. The company has a market capitalization of $43.14 billion, a P/E ratio of 23.10, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. Analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.96%. TE Connectivity's payout ratio is 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TEL shares. Wells Fargo & Company increased their target price on TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group reissued a "buy" rating and issued a $163.00 target price (up previously from $155.00) on shares of TE Connectivity in a report on Thursday. The Goldman Sachs Group lowered their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. increased 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.

TE Connectivity 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.