Heartland Advisors Inc. Sells 6,439 Shares of TE Connectivity Ltd. (NYSE:TEL)

Heartland Advisors Inc. cut its position in TE Connectivity Ltd. (NYSE:TEL) by 17.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,668 shares of the electronics maker’s stock after selling 6,439 shares during the quarter. Heartland Advisors Inc.’s holdings in TE Connectivity were worth $4,385,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. grew its holdings in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity during the fourth quarter valued at approximately $55,000. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

TE Connectivity Stock Down 3.4 %

NYSE TEL opened at $142.04 on Friday. The business’s 50-day moving average is $149.32 and its 200 day moving average is $148.38. The stock has a market capitalization of $42.38 billion, a PE ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 2.00%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial cut 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 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 currently has a consensus rating of “Hold” and a consensus target price of $167.00.

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.