TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,337 shares of the electronics maker’s stock after selling 4,456 shares during the quarter. Corient Private Wealth LLC’s holdings in TE Connectivity were worth $8,627,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TEL. Envestnet Portfolio Solutions Inc. increased its position in TE Connectivity by 43.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 55,951 shares of the electronics maker’s stock worth $7,999,000 after purchasing an additional 17,064 shares during the last quarter. Choate Investment Advisors acquired a new stake in shares of TE Connectivity during the 4th quarter worth $636,000. Natixis Advisors LLC raised its position in shares of TE Connectivity by 4.2% in the 4th quarter. Natixis Advisors LLC now owns 159,112 shares of the electronics maker’s stock worth $22,748,000 after buying an additional 6,394 shares during the period. Frank Rimerman Advisors LLC acquired a new position in TE Connectivity in the fourth quarter valued at $269,000. Finally, LBP AM SA grew its position in TE Connectivity by 1.1% during the fourth quarter. LBP AM SA now owns 37,054 shares of the electronics maker’s stock valued at $5,298,000 after acquiring an additional 418 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 1.0 %

Shares of TEL opened at $146.29 on Friday. 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 one year low of $137.61 and a one year high of $159.98. The stock has a 50-day moving average price of $148.80 and a 200 day moving average price of $148.38. The company has a market capitalization of $43.65 billion, a P/E ratio of 23.37, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results 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. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend 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 is 45.37%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial decreased their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Robert W. Baird raised 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $167.00.

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.