Corient Private Wealth LLC Trims Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Corient Private Wealth LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,337 shares of the electronics maker’s stock after selling 4,456 shares during the period. Corient Private Wealth LLC’s holdings in TE Connectivity were worth $8,627,000 at the end of the most recent reporting period.

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

TE Connectivity Price Performance

TE Connectivity stock opened at $146.29 on Friday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market capitalization of $43.65 billion, a PE ratio of 23.37, a P/E/G ratio of 2.11 and a beta of 1.32. 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 firm’s 50-day simple moving average is $148.80 and its 200 day simple moving average is $148.38.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.94%. TE Connectivity’s payout ratio is presently 45.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. 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 research report on Thursday, January 23rd. Finally, Truist Financial lowered their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by insiders.

TE Connectivity 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.