State of Tennessee Department of Treasury Trims Holdings in TE Connectivity Ltd. (NYSE:TEL)

State of Tennessee Department of Treasury cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,079 shares of the electronics maker's stock after selling 8,865 shares during the quarter. State of Tennessee Department of Treasury's holdings in TE Connectivity were worth $15,595,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the 4th quarter worth $26,000. SRS Capital Advisors Inc. lifted its stake in 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 purchased a new stake in TE Connectivity in the fourth quarter worth $43,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the 4th quarter worth about $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $55,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In related 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 value 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 approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $133.76 on Wednesday. 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's 50 day simple moving average is $142.18 and its 200-day simple moving average is $146.17. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The stock has a market capitalization of $39.91 billion, a price-to-earnings ratio of 21.37, a PEG 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 for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The company's revenue was up .1% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.12%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is presently 45.37%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TEL shares. Truist Financial lowered their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $169.00 to $146.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Citigroup dropped their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $156.90.

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.

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.