CIBC Private Wealth Group LLC Sells 56,983 Shares of TE Connectivity Ltd. (NYSE:TEL)

CIBC Private Wealth Group LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,357,118 shares of the electronics maker's stock after selling 56,983 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.79% of TE Connectivity worth $338,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TEL. Algert Global LLC increased its holdings in shares of TE Connectivity by 17.0% during the third quarter. Algert Global LLC now owns 3,857 shares of the electronics maker's stock worth $582,000 after buying an additional 560 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in TE Connectivity by 13.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker's stock valued at $1,974,000 after purchasing an additional 1,600 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in TE Connectivity by 6.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,941 shares of the electronics maker's stock valued at $293,000 after purchasing an additional 120 shares in the last quarter. Kestra Investment Management LLC bought a new position in TE Connectivity in the 3rd quarter valued at $1,473,000. Finally, Atom Investors LP boosted its stake in TE Connectivity by 238.1% in the third quarter. Atom Investors LP now owns 4,707 shares of the electronics maker's stock worth $711,000 after purchasing an additional 3,315 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Down 6.6 %

Shares of TE Connectivity stock traded down $9.36 during trading on Thursday, reaching $132.93. 1,040,909 shares of the company were exchanged, compared to its average volume of 1,673,041. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $39.66 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 2.11 and a beta of 1.25. The business has a 50-day moving average price of $148.83 and a 200-day moving average price of $148.34. TE Connectivity Ltd. has a twelve month low of $131.35 and a twelve month high of $159.98.

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

TE Connectivity Increases Dividend

The firm 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.14%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's payout ratio is presently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of research analyst reports. Truist Financial cut their price target on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $167.00.

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.