TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 81.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,355 shares of the electronics maker’s stock after selling 529,936 shares during the quarter. Assenagon Asset Management S.A.’s holdings in TE Connectivity were worth $17,050,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $30,000. Jones Financial Companies Lllp grew its holdings in shares of TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares during the period. Arlington Trust Co LLC acquired a new stake in TE Connectivity during the 3rd quarter valued at $35,000. Money Concepts Capital Corp grew its holdings in TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after buying an additional 162 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of analyst reports. Truist Financial increased their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Citigroup began coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Wells Fargo & Company began coverage on TE Connectivity in a research note on Friday, December 15th. They set an “equal weight” rating and a $144.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 2.2 %

Shares of TEL opened at $144.75 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $44.99 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. The stock’s fifty day simple moving average is $141.26 and its 200 day simple moving average is $133.28. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $146.84.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the company posted $1.53 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.80%. TE Connectivity’s dividend payout ratio is presently 22.39%.

TE Connectivity declared that its board has approved a share buyback program on Tuesday, December 12th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.