Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 81.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,018 shares of the electronics maker's stock after selling 263,678 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TE Connectivity were worth $8,438,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in TE Connectivity during the 4th quarter valued at $44,000. Hilltop National Bank bought a new position in TE Connectivity in the 4th quarter worth $55,000. Finally, Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity in the 4th quarter worth about $57,000. Institutional investors own 91.43% of the company's stock.
TE Connectivity Stock Performance
Shares of TEL stock traded up $1.00 on Monday, reaching $146.88. The stock had a trading volume of 1,160,174 shares, compared to its average volume of 1,580,979. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The stock has a market cap of $43.82 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a 50 day simple moving average of $148.53 and a 200 day simple moving average of $148.48.
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 the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the business earned $1.84 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS 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 issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.93%. 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 payout ratio is currently 41.53%.
Insiders Place Their Bets
In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.
Analyst Upgrades and Downgrades
TEL has been the topic of several research reports. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 23rd. Truist Financial dropped their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Finally, HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $167.00.
Check Out Our Latest Report on TEL
TE Connectivity Profile
(
Free Report)
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.
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