Truist Financial Corp Has $18.39 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Truist Financial Corp trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,872 shares of the electronics maker’s stock after selling 7,603 shares during the period. Truist Financial Corp’s holdings in TE Connectivity were worth $18,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Argonautica Private Wealth Management Inc. increased its stake in shares of TE Connectivity by 3.2% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock valued at $348,000 after buying an additional 78 shares during the period. Stevens Capital Management LP increased its stake in shares of TE Connectivity by 37.7% in the 4th quarter. Stevens Capital Management LP now owns 4,796 shares of the electronics maker’s stock valued at $674,000 after buying an additional 1,314 shares during the period. Syon Capital LLC increased its stake in shares of TE Connectivity by 10.2% in the 4th quarter. Syon Capital LLC now owns 3,303 shares of the electronics maker’s stock valued at $464,000 after buying an additional 305 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of TE Connectivity by 37.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 14,457 shares of the electronics maker’s stock valued at $2,031,000 after buying an additional 3,974 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at $156,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Down 0.9 %

TEL stock opened at $141.47 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The stock has a market capitalization of $43.32 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.09 and a beta of 1.39. The business has a 50-day moving average of $142.58 and a 200-day moving average of $136.60. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. TE Connectivity’s revenue was down 4.6% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.55 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.84%. TE Connectivity’s payout ratio is presently 21.59%.

Wall Street Analysts Forecast Growth

TEL has been the topic of several recent research reports. StockNews.com initiated coverage on TE Connectivity in a research report on Tuesday. They issued a “buy” rating on the stock. Stifel Nicolaus raised their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Truist Financial boosted their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Citigroup began coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.50.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity 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.