Invesco Ltd. Sells 1,607,029 Shares of TE Connectivity Ltd. (NYSE:TEL)

Invesco Ltd. lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 37.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,710,718 shares of the electronics maker's stock after selling 1,607,029 shares during the period. Invesco Ltd. owned approximately 0.91% of TE Connectivity worth $387,551,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TEL. Modera Wealth Management LLC grew its stake in shares of TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock valued at $409,000 after buying an additional 78 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock worth $2,002,000 after purchasing an additional 83 shares during the period. Ascent Wealth Partners LLC lifted its position in shares of TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock worth $1,231,000 after buying an additional 85 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock valued at $240,000 after buying an additional 95 shares during the period. Finally, Callan Capital LLC lifted its holdings in TE Connectivity by 5.4% in the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker's stock worth $296,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

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TE Connectivity Price Performance

Shares of TEL traded up $0.70 during trading hours on Tuesday, hitting $130.65. 309,241 shares of the company were exchanged, compared to its average volume of 1,707,222. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $159.98. The company has a market capitalization of $38.98 billion, a PE ratio of 20.87, a PEG ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a fifty day simple moving average of $144.46 and a 200-day simple moving average of $146.89.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results 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 company 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 for the quarter was up .1% on a year-over-year basis. During the same period last year, the company posted $1.84 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.17%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's payout ratio is presently 45.37%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business's stock in a transaction 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 directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TEL shares. Truist Financial lowered their price objective 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. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Bank of America upped their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, StockNews.com cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has an average 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.