FIL Ltd Sells 15,548 Shares of TE Connectivity Ltd. (NYSE:TEL)

FIL Ltd cut its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,912 shares of the electronics maker's stock after selling 15,548 shares during the quarter. FIL Ltd's holdings in TE Connectivity were worth $6,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in TE Connectivity during the fourth quarter worth $2,920,000. Meyer Handelman Co. increased its holdings in TE Connectivity by 9.9% in the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after purchasing an additional 9,175 shares in the last quarter. abrdn plc acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $15,739,000. Truist Financial Corp grew its holdings in TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after acquiring an additional 31,991 shares during the last quarter. Finally, Carnegie Investment Counsel grew 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 purchasing an additional 4,913 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TEL shares. Wells Fargo & Company lifted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 23rd. 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 lowered 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 note on Monday. StockNews.com cut shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price objective on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $156.90.

TE Connectivity Stock Up 1.8 %

NYSE:TEL traded up $2.33 on Friday, hitting $129.23. The stock had a trading volume of 2,517,669 shares, compared to its average volume of 1,716,925. 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 52 week low of $116.30 and a 52 week high of $159.98. The business's fifty day moving average is $143.31 and its 200 day moving average is $146.48. The company has a market cap of $38.56 billion, a PE ratio of 20.64, a P/E/G ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations 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 was up .1% on a year-over-year basis. During the same period last year, the company earned $1.84 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.20%. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company's stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.