TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the electronics maker’s stock after selling 142 shares during the period. Lee Danner & Bass Inc.’s holdings in TE Connectivity were worth $410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in TE Connectivity by 475.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,141 shares of the electronics maker’s stock valued at $592,000 after purchasing an additional 3,421 shares in the last quarter. Whittier Trust Co. lifted its holdings in TE Connectivity by 979.7% in the 4th quarter. Whittier Trust Co. now owns 9,663 shares of the electronics maker’s stock valued at $1,382,000 after purchasing an additional 8,768 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $642,000. Sandy Spring Bank lifted its holdings in TE Connectivity by 55.4% in the 4th quarter. Sandy Spring Bank now owns 1,007 shares of the electronics maker’s stock valued at $144,000 after purchasing an additional 359 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in TE Connectivity in the 4th quarter valued at about $6,298,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the 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 transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. 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 company insiders.

TE Connectivity Trading Down 0.1 %

NYSE TEL opened at $146.10 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company’s 50 day moving average price is $148.91 and its 200 day moving average price is $148.33. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 23.34, a PEG 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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEL. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Truist Financial cut their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Citigroup increased their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $167.00.

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.