Vestcor Inc Decreases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Vestcor Inc lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,629 shares of the electronics maker's stock after selling 12,061 shares during the quarter. Vestcor Inc's holdings in TE Connectivity were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in TE Connectivity by 11.9% in the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker's stock worth $342,000 after acquiring an additional 241 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of TE Connectivity by 17.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker's stock worth $300,000 after purchasing an additional 288 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of TE Connectivity by 0.8% during the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker's stock valued at $22,167,000 after purchasing an additional 1,154 shares in the last quarter. Huntington National Bank boosted its position in shares of TE Connectivity by 5.6% during the third quarter. Huntington National Bank now owns 3,870 shares of the electronics maker's stock valued at $585,000 after buying an additional 204 shares during the last quarter. Finally, KBC Group NV increased its holdings in TE Connectivity by 53.9% in the 3rd quarter. KBC Group NV now owns 102,617 shares of the electronics maker's stock worth $15,495,000 after buying an additional 35,959 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

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TE Connectivity Price Performance

NYSE:TEL traded up $0.94 on Wednesday, reaching $147.80. 2,100,766 shares of the company's stock traded hands, compared to its average volume of 1,576,832. The stock has a 50-day simple moving average of $148.67 and a 200-day simple moving average of $148.40. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The firm has a market cap of $44.10 billion, a PE ratio of 23.61, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.92%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is presently 45.37%.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price 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 Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Bank of America lifted 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. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Finally, Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of "Hold" and an average price target of $167.00.

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.