Two Sigma Advisers LP Reduces Stake in TE Connectivity Ltd. (NYSE:TEL)

Two Sigma Advisers LP decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 38.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 66,400 shares of the electronics maker’s stock after selling 41,100 shares during the period. Two Sigma Advisers LP’s holdings in TE Connectivity were worth $9,493,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC lifted its holdings in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock worth $534,000 after purchasing an additional 75 shares in the last quarter. Modera Wealth Management LLC lifted its holdings in TE Connectivity by 2.8% during the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 78 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in TE Connectivity by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after purchasing an additional 83 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in TE Connectivity by 1.0% during the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after purchasing an additional 85 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in TE Connectivity by 6.0% during the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $158.84 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $47.10 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The business’s 50-day moving average price is $143.34 and its 200-day moving average price is $146.95. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $164.11.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 EPS. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.79%. TE Connectivity’s dividend payout ratio is 62.42%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup dropped their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. raised their price target on TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Truist Financial lowered their price target on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group lowered their price target on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Wall Street Zen cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.30.

Insider Buying and Selling

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the transaction, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity 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 completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents 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 ninety days. 0.90% of the stock is owned by insiders.

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.