HighTower Advisors LLC Sells 5,284 Shares of TE Connectivity Ltd. (NYSE:TEL)

HighTower Advisors LLC reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,519 shares of the electronics maker's stock after selling 5,284 shares during the period. HighTower Advisors LLC's holdings in TE Connectivity were worth $7,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TEL. Pinnacle Bancorp Inc. bought a new position in TE Connectivity during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its holdings in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $44,000. Finally, Hilltop National Bank bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $55,000. 91.43% of the stock is currently owned by institutional investors.

Insider Transactions at TE Connectivity

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 value of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TEL shares. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Finally, Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $167.00.

TE Connectivity Stock Down 0.1 %

TE Connectivity stock traded down $0.19 on Friday, hitting $146.10. 4,283,285 shares of the stock traded hands, compared to its average volume of 1,585,615. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $43.59 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The business's fifty day simple moving average is $148.80 and its 200 day simple moving average is $148.38. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share. As a group, sell-side analysts forecast 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. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 45.37%.

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.