Bessemer Group Inc. Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Bessemer Group Inc. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 478,688 shares of the electronics maker's stock after selling 13,614 shares during the period. Bessemer Group Inc. owned about 0.16% of TE Connectivity worth $68,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. EP Wealth Advisors LLC bought a new stake in shares of TE Connectivity during the third quarter worth approximately $278,000. MML Investors Services LLC grew its stake in shares of TE Connectivity by 11.1% during the 3rd quarter. MML Investors Services LLC now owns 22,722 shares of the electronics maker's stock worth $3,431,000 after acquiring an additional 2,276 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TE Connectivity during the 3rd quarter worth about $2,586,000. LRI Investments LLC increased its position in shares of TE Connectivity by 64.8% during the 3rd quarter. LRI Investments LLC now owns 819 shares of the electronics maker's stock worth $126,000 after purchasing an additional 322 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of TE Connectivity by 13.1% in the 3rd quarter. M&T Bank Corp now owns 21,211 shares of the electronics maker's stock valued at $3,203,000 after acquiring an additional 2,463 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Remove Ads

TE Connectivity Price Performance

Shares of NYSE TEL traded up $0.10 during mid-day trading on Tuesday, reaching $130.05. The company's stock had a trading volume of 409,100 shares, compared to its average volume of 1,707,598. The firm has a market capitalization of $38.80 billion, a PE ratio of 20.77, a P/E/G ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98. The stock has a fifty day moving average of $144.46 and a two-hundred day moving average of $146.89. 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 posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal 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 paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 2.18%. TE Connectivity's dividend payout ratio (DPR) is currently 45.37%.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on TEL shares. Truist Financial decreased their price target on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Citigroup reduced their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Finally, Robert W. Baird cut their price target on TE Connectivity from $150.00 to $147.00 and set an "outperform" rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $159.20.

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.