TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,143 shares of the electronics maker’s stock after selling 3,011 shares during the quarter. Metis Global Partners LLC’s holdings in TE Connectivity were worth $1,425,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TEL. Stratos Wealth Partners LTD. grew its stake in shares of TE Connectivity by 10.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,957 shares of the electronics maker’s stock valued at $365,000 after buying an additional 272 shares during the period. Brown Advisory Inc. increased its stake in TE Connectivity by 36.0% during the third quarter. Brown Advisory Inc. now owns 18,375 shares of the electronics maker’s stock worth $2,270,000 after acquiring an additional 4,862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TE Connectivity by 1.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,274 shares of the electronics maker’s stock valued at $6,828,000 after purchasing an additional 961 shares during the period. Mackenzie Financial Corp lifted its stake in shares of TE Connectivity by 43.7% in the 3rd quarter. Mackenzie Financial Corp now owns 50,518 shares of the electronics maker’s stock valued at $6,175,000 after purchasing an additional 15,354 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TE Connectivity by 1.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,211 shares of the electronics maker’s stock worth $9,908,000 after purchasing an additional 761 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Wednesday. They set a “buy” rating on the stock. Truist Financial raised their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird cut their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Stifel Nicolaus lifted their target price on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $153.89.

Insider Activity at TE Connectivity

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is owned by insiders.

TE Connectivity Price Performance

Shares of TEL opened at $144.80 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98. The stock has a market cap of $44.34 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The firm has a fifty day moving average price of $142.44 and a 200 day moving average price of $137.30.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.80%. TE Connectivity’s payout ratio is 23.79%.

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.