Bessemer Group Inc. Sells 13,614 Shares of TE Connectivity Ltd. (NYSE:TEL)

Bessemer Group Inc. trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,688 shares of the electronics maker’s stock after selling 13,614 shares during the quarter. Bessemer Group Inc. owned 0.16% of TE Connectivity worth $68,438,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its stake in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank purchased a new position in shares of TE Connectivity during the 4th quarter valued at $55,000. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on TEL. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Citigroup boosted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.56.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $133.96 on Thursday. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm’s 50-day moving average is $145.47 and its 200 day moving average is $147.33. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .1% on a year-over-year basis. During the same period last year, the company earned $1.84 EPS. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 45.37%.

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.