Advisors Asset Management Inc. Sells 1,820 Shares of TE Connectivity Ltd. (NYSE:TEL)

Advisors Asset Management Inc. lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,049 shares of the electronics maker's stock after selling 1,820 shares during the period. Advisors Asset Management Inc.'s holdings in TE Connectivity were worth $3,581,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TEL. State Street Corp grew its stake in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after acquiring an additional 268,837 shares during the last quarter. Geode Capital Management LLC grew its position in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after purchasing an additional 75,658 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of TE Connectivity by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock worth $536,083,000 after purchasing an additional 488,680 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after buying an additional 694,917 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after buying an additional 712,228 shares during the period. Institutional investors own 91.43% of the company's stock.

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TE Connectivity Price Performance

TEL stock traded up $1.58 during midday trading on Tuesday, reaching $150.56. 2,867,733 shares of the company's stock traded hands, compared to its average volume of 1,579,313. The company has a 50-day simple moving average of $149.07 and a two-hundred day simple moving average of $148.35. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a market cap of $44.92 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the previous year, the business posted $1.84 earnings per share. The firm's revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is currently 45.37%.

Analyst Upgrades and Downgrades

TEL has been the topic of several recent research reports. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, TE Connectivity has an average rating of "Hold" and a consensus target price of $167.00.

Insider Buying and Selling

In other news, 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 value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Company 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.