DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $12.69 Million Position in TE Connectivity Ltd. (NYSE:TEL)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 65.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,722 shares of the electronics maker's stock after selling 164,505 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in TE Connectivity were worth $12,685,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Meyer Handelman Co. boosted its position in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock valued at $14,531,000 after buying an additional 9,175 shares during the last quarter. abrdn plc purchased a new position in TE Connectivity during the fourth quarter valued at $15,739,000. Truist Financial Corp boosted its holdings in TE Connectivity by 32.8% in the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after buying an additional 31,991 shares during the last quarter. Carnegie Investment Counsel boosted its stake in shares of TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker's stock worth $17,019,000 after acquiring an additional 4,913 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth about $237,000. 91.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, insider Aaron Kyle Stucki sold 5,000 shares of TE Connectivity stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $800,000.00. Following the completion of the sale, the insider now directly owns 23,646 shares in the company, valued at $3,783,360. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,275 shares of company stock worth $23,740,419. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. StockNews.com downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Robert W. Baird upped their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $159.50.

TE Connectivity Trading Up 0.9%

NYSE TEL traded up $1.49 during mid-day trading on Tuesday, hitting $162.47. The company's stock had a trading volume of 1,715,155 shares, compared to its average volume of 1,692,032. The stock's fifty day simple moving average is $140.80 and its two-hundred day simple moving average is $146.26. The firm has a market capitalization of $48.18 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $163.36. 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 (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.75%. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

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.