First Hawaiian Bank Has $2.84 Million Position in TE Connectivity Ltd. (NYSE:TEL)

First Hawaiian Bank reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,118 shares of the electronics maker’s stock after selling 1,300 shares during the quarter. First Hawaiian Bank’s holdings in TE Connectivity were worth $2,843,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TEL. Vanguard Group Inc. lifted its holdings in shares of TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of TE Connectivity during the 4th quarter valued at about $909,598,000. Geode Capital Management LLC lifted its holdings in shares of TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after purchasing an additional 33,340 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock valued at $801,101,000 after purchasing an additional 592,072 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after purchasing an additional 1,702,825 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 0.8%

Shares of TE Connectivity stock opened at $161.54 on Friday. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11. The stock has a market cap of $47.90 billion, a P/E ratio of 25.81, a P/E/G ratio of 2.11 and a beta of 1.24. 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 business’s 50 day moving average is $144.59 and its 200-day moving average is $147.15.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (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 in the prior year, the business posted $1.86 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid 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 1.76%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TEL shares. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. UBS Group reiterated a “buy” rating and set a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Wall Street Zen cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Truist Financial cut their target price on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.30.

Insider Transactions at TE Connectivity

In related news, SVP Malavika Sagar sold 3,125 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president now directly owns 5,927 shares of the company’s stock, valued at approximately $948,320. The trade was a 34.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,062,559 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

About TE Connectivity

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.