TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Colonial Trust Co SC

Colonial Trust Co SC lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,023 shares of the electronics maker’s stock after selling 762 shares during the quarter. Colonial Trust Co SC’s holdings in TE Connectivity were worth $146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Wellington Management Group LLP acquired a new position in shares of TE Connectivity during the 4th quarter valued at $909,598,000. Vanguard Group Inc. grew its holdings in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Norges Bank bought a new stake in TE Connectivity in the fourth quarter worth about $508,199,000. Clearbridge Investments LLC lifted its holdings in TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after acquiring an additional 1,702,825 shares during the last quarter. Finally, Amundi bought a new position in shares of TE Connectivity during the 4th quarter valued at about $159,992,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE TEL opened at $152.19 on Friday. The company has a 50 day simple moving average of $140.51 and a 200-day simple moving average of $146.13. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $159.98. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. 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 (NYSE:TEL) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. 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 company also recently declared 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 is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.87%. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’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 of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John S. Jenkins sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the sale, the executive vice president now owns 24,625 shares of the company’s stock, valued at approximately $3,678,728.75. This trade represents a 54.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Citigroup decreased their target price 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. upped their target price 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 reissued a “buy” rating and issued a $163.00 price target (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus target price of $159.50.

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.