Advisory Services Network LLC Sells 82 Shares of TE Connectivity Ltd. (NYSE:TEL)

Advisory Services Network LLC lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 0.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,804 shares of the electronics maker’s stock after selling 82 shares during the period. Advisory Services Network LLC’s holdings in TE Connectivity were worth $1,259,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TEL. Central Pacific Bank Trust Division bought a new stake in shares of TE Connectivity in the fourth quarter worth about $2,920,000. Meyer Handelman Co. increased its stake in TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares in the last quarter. abrdn plc bought a new position in TE Connectivity in the fourth quarter valued at approximately $15,739,000. Truist Financial Corp boosted its holdings in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after buying an additional 31,991 shares during the period. Finally, Carnegie Investment Counsel increased its position in shares of TE Connectivity by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after acquiring an additional 4,913 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE TEL opened at $127.85 on Friday. The firm has a market capitalization of $38.14 billion, a P/E ratio of 20.42, a price-to-earnings-growth 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 firm’s fifty day moving average price is $144.78 and its two-hundred day moving average price is $147.05. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its 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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm earned $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm 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 dividend of $0.71 per share. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s payout ratio is currently 45.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” 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 note on Thursday, January 23rd. Finally, The Goldman Sachs Group cut their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $163.60.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

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.