Voya Investment Management LLC Has $7.03 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Voya Investment Management LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,196 shares of the electronics maker’s stock after selling 2,266 shares during the quarter. Voya Investment Management LLC’s holdings in TE Connectivity were worth $7,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its stake in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the 4th quarter valued at about $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity during the fourth quarter worth about $55,000. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TEL. Citigroup dropped their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Thursday, April 24th. Robert W. Baird raised their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Truist Financial decreased their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and a consensus price target of $159.50.

TE Connectivity Trading Up 0.3 %

Shares of NYSE:TEL opened at $145.34 on Wednesday. The company has a market capitalization of $43.36 billion, a P/E ratio of 23.22, a P/E/G 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 business’s 50 day simple moving average is $141.02 and its 200 day simple moving average is $146.04. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the business earned $1.86 earnings per share. TE Connectivity’s revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 62.42%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

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.