Bessemer Group Inc. Sells 29,407 Shares of TE Connectivity Ltd. (NYSE:TEL)

Bessemer Group Inc. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 449,281 shares of the electronics maker’s stock after selling 29,407 shares during the quarter. Bessemer Group Inc. owned 0.15% of TE Connectivity worth $63,493,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $909,598,000. Vanguard Group Inc. lifted its stake 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 purchasing an additional 4,029,596 shares during the last quarter. Norges Bank bought a new stake in TE Connectivity during the fourth quarter worth $508,199,000. Clearbridge Investments LLC increased its stake in shares of 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 purchasing an additional 1,702,825 shares during the last quarter. Finally, Amundi acquired a new position in shares of TE Connectivity during the 4th quarter worth $159,992,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEL has been the topic of several research analyst reports. UBS Group raised their price objective on TE Connectivity from $163.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Wells Fargo & Company raised their price target on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Truist Financial decreased their price target on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Citigroup dropped their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and a consensus target price of $162.50.

Insider Buying and Selling

In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $4,130,963.28. 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 valued at $27,369,059 over the last ninety days. 0.90% of the stock is owned by company insiders.

TE Connectivity Trading Up 0.9%

TEL opened at $168.04 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $168.49. The company’s 50 day moving average price is $156.08 and its two-hundred day moving average price is $148.82. The firm has a market capitalization of $49.83 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.18 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. TE Connectivity’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.69%. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

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.