Rockefeller Capital Management L.P. Trims Position in TE Connectivity Ltd. (NYSE:TEL)

Rockefeller Capital Management L.P. lessened its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 790,955 shares of the electronics maker's stock after selling 233,499 shares during the quarter. Rockefeller Capital Management L.P. owned 0.27% of TE Connectivity worth $113,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Wellington Management Group LLP bought a new stake in TE Connectivity in the fourth quarter valued at approximately $909,598,000. Geode Capital Management LLC boosted its stake in shares of TE Connectivity by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after purchasing an additional 33,340 shares during the period. Clearbridge Investments LLC grew its holdings in shares of TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock worth $536,083,000 after buying an additional 488,680 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

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Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity 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 completion of the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

TEL has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lowered their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, UBS Group decreased their target price on TE Connectivity from $188.00 to $155.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity has an average rating of "Hold" and an average target price of $159.20.

TE Connectivity Stock Down 0.4 %

TEL traded down $0.55 during trading on Tuesday, reaching $129.40. The stock had a trading volume of 1,811,043 shares, compared to its average volume of 1,714,049. 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 $38.61 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.11 and a beta of 1.25. 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 stock's 50 day moving average is $144.46 and its two-hundred day moving average is $146.89.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. TE Connectivity's revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced 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 represents a $2.84 annualized dividend and a yield of 2.19%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity's payout ratio is 45.37%.

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.