United Capital Financial Advisors LLC Cuts Stake in TE Connectivity Ltd. (NYSE:TEL)

United Capital Financial Advisors LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,493 shares of the electronics maker’s stock after selling 160 shares during the quarter. United Capital Financial Advisors LLC’s holdings in TE Connectivity were worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Anchor Investment Management LLC lifted its stake in TE Connectivity by 14.8% in the 3rd quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock worth $762,000 after purchasing an additional 652 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of TE Connectivity by 286.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker’s stock worth $2,534,000 after purchasing an additional 12,444 shares during the last quarter. Tidal Investments LLC lifted its position in shares of TE Connectivity by 24.5% in the third quarter. Tidal Investments LLC now owns 22,128 shares of the electronics maker’s stock worth $3,341,000 after buying an additional 4,359 shares in the last quarter. Franklin Resources Inc. boosted its stake in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in TE Connectivity by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,458 shares of the electronics maker’s stock valued at $1,859,000 after buying an additional 223 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEL. The Goldman Sachs Group decreased their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of TE Connectivity from $169.00 to $146.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Bank of America boosted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $156.90.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

TEL opened at $129.23 on Friday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $159.98. The stock has a market cap of $38.56 billion, a P/E ratio of 20.64, a PEG ratio of 2.11 and a beta of 1.25. The business has a fifty day moving average of $142.92 and a 200 day moving average of $146.36. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 2.20%. TE Connectivity’s payout ratio 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.