TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Signaturefd LLC

Signaturefd LLC lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,919 shares of the electronics maker’s stock after selling 231 shares during the quarter. Signaturefd LLC’s holdings in TE Connectivity were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Modera Wealth Management LLC boosted its holdings in TE Connectivity by 2.8% in the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 78 shares during the period. King Luther Capital Management Corp boosted its holdings in TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after purchasing an additional 83 shares during the period. Ascent Wealth Partners LLC boosted its holdings in TE Connectivity by 1.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after purchasing an additional 85 shares during the period. Moors & Cabot Inc. boosted its holdings in TE Connectivity by 6.0% in the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after purchasing an additional 95 shares during the period. Finally, Callan Capital LLC boosted its holdings in TE Connectivity by 5.4% in the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $146.80 on Wednesday. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm’s 50-day simple moving average is $148.67 and its 200 day simple moving average is $148.40. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.80 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the business earned $1.84 earnings per share. The company’s revenue was up .1% on a year-over-year basis. Equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.93%. TE Connectivity’s payout ratio is 45.37%.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on TEL. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. HSBC raised shares of 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. Bank of America raised 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 cut their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.