Northwest & Ethical Investments L.P. Trims Holdings in TE Connectivity Ltd. (NYSE:TEL)

Northwest & Ethical Investments L.P. decreased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,264 shares of the electronics maker's stock after selling 4,417 shares during the quarter. Northwest & Ethical Investments L.P. owned approximately 0.06% of TE Connectivity worth $25,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEL. Fifth Third Wealth Advisors LLC lifted its position in shares of TE Connectivity by 39.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,389 shares of the electronics maker's stock worth $663,000 after purchasing an additional 1,233 shares during the period. PNC Financial Services Group Inc. boosted its position in TE Connectivity by 0.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 116,966 shares of the electronics maker's stock valued at $17,661,000 after acquiring an additional 889 shares in the last quarter. Commerce Bank raised its position in shares of TE Connectivity by 0.4% in the 3rd quarter. Commerce Bank now owns 405,318 shares of the electronics maker's stock worth $61,199,000 after acquiring an additional 1,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of TE Connectivity by 769.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,401 shares of the electronics maker's stock valued at $16,997,000 after purchasing an additional 99,466 shares during the period. Finally, King Luther Capital Management Corp boosted its position in shares of TE Connectivity by 2.1% during the third quarter. King Luther Capital Management Corp now owns 13,923 shares of the electronics maker's stock valued at $2,102,000 after purchasing an additional 288 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by insiders.

TE Connectivity Stock Performance

TE Connectivity stock traded up $2.87 during midday trading on Monday, reaching $149.04. 1,802,132 shares of the company traded hands, compared to its average volume of 1,579,467. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. 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 business has a 50 day moving average of $149.07 and a two-hundred day moving average of $148.35. The firm has a market capitalization of $44.47 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $1.84 EPS. As a group, research 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. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is presently 45.37%.

Analyst Ratings Changes

TEL has been the topic of a number of recent research reports. Citigroup upped their target price 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. 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. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price for the company in a report on Thursday, January 23rd. Truist Financial reduced their price objective on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of "Hold" and an average target price of $167.00.

TE Connectivity 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.