TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,325 shares of the electronics maker's stock after selling 2,584 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in TE Connectivity were worth $12,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEL. Voleon Capital Management LP purchased a new stake in shares of TE Connectivity in the fourth quarter valued at about $2,189,000. AQR Capital Management LLC grew its holdings in shares of TE Connectivity by 7.4% during the fourth quarter. AQR Capital Management LLC now owns 532,918 shares of the electronics maker's stock worth $76,191,000 after buying an additional 36,583 shares during the last quarter. Lido Advisors LLC increased its position in TE Connectivity by 8.5% in the 4th quarter. Lido Advisors LLC now owns 6,437 shares of the electronics maker's stock valued at $920,000 after acquiring an additional 504 shares during the period. Northern Trust Corp raised its stake in TE Connectivity by 29.3% during the 4th quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock valued at $384,739,000 after acquiring an additional 610,571 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in TE Connectivity by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 338,963 shares of the electronics maker's stock worth $48,462,000 after acquiring an additional 2,867 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

TEL has been the subject of several analyst reports. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. UBS Group restated a "buy" rating and set a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Thursday, April 24th. Truist Financial cut their price target on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Finally, Citigroup lowered their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $159.50.

TE Connectivity Stock Up 2.5 %

TEL opened at $150.02 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market cap of $44.49 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.11 and a beta of 1.23. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $159.98. The business's fifty day moving average is $140.68 and its two-hundred day moving average is $146.06.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's payout ratio is currently 62.42%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by 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.

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