Prudential Financial Inc. Sells 16,990 Shares of TE Connectivity Ltd. (NYSE:TEL)

Prudential Financial Inc. decreased its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 34.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,702 shares of the electronics maker's stock after selling 16,990 shares during the period. Prudential Financial Inc.'s holdings in TE Connectivity were worth $4,532,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. raised its holdings in TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after purchasing an additional 9,670 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of TE Connectivity during the 4th quarter worth $2,920,000. Meyer Handelman Co. boosted its position in shares of 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 buying an additional 9,175 shares in the last quarter. abrdn plc acquired a new stake in TE Connectivity in the 4th quarter valued at about $15,739,000. Finally, Truist Financial Corp increased 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 valued at $18,509,000 after acquiring an additional 31,991 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Down 4.7 %

Shares of NYSE:TEL traded down $6.05 on Friday, reaching $123.93. The company had a trading volume of 2,279,168 shares, compared to its average volume of 1,682,778. 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 stock has a market capitalization of $36.98 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.11 and a beta of 1.25. The stock has a 50-day moving average price of $148.29 and a 200 day moving average price of $148.22. TE Connectivity Ltd. has a twelve month low of $118.56 and a twelve month high of $159.98.

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TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly 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 return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company posted $1.84 earnings per share. The company's revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is presently 45.37%.

Analyst Ratings Changes

TEL has been the subject of a number of analyst reports. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating 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 report on Friday, February 28th. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Finally, Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has a consensus rating of "Hold" and an average price target of $167.00.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company's stock.

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.