TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its stake in TE Connectivity Ltd. (NYSE:TEL) by 26.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 756,544 shares of the electronics maker’s stock after selling 272,866 shares during the period. Royal London Asset Management Ltd. owned 0.25% of TE Connectivity worth $108,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TEL. Generali Asset Management SPA SGR purchased a new position in shares of TE Connectivity during the fourth quarter worth about $6,298,000. Cibc World Markets Corp grew its stake in TE Connectivity by 14.7% during the 4th quarter. Cibc World Markets Corp now owns 47,425 shares of the electronics maker’s stock worth $6,780,000 after buying an additional 6,095 shares during the last quarter. 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 buying an additional 17,064 shares during the period. Choate Investment Advisors purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $636,000. Finally, Natixis Advisors LLC boosted its holdings in shares of TE Connectivity by 4.2% in the fourth quarter. Natixis Advisors LLC now owns 159,112 shares of the electronics maker’s stock valued at $22,748,000 after acquiring an additional 6,394 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on TEL. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Truist Financial dropped their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven research 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, TE Connectivity has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Up 0.6 %

Shares of TE Connectivity stock opened at $147.80 on Thursday. The company has a 50-day moving average of $148.75 and a two-hundred day moving average of $148.40. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. 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 stock has a market cap of $44.10 billion, a PE ratio of 23.61, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced 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 is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

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.