Azzad Asset Management Inc. ADV cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 84.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,756 shares of the electronics maker’s stock after selling 14,430 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in TE Connectivity were worth $576,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Man Group plc raised its holdings in TE Connectivity by 259.9% in the 4th quarter. Man Group plc now owns 1,252,434 shares of the electronics maker’s stock valued at $284,941,000 after buying an additional 904,468 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $1,983,000. Jefferies Financial Group Inc. increased its position in TE Connectivity by 575.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 36,496 shares of the electronics maker’s stock valued at $8,303,000 after acquiring an additional 31,096 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of TE Connectivity by 2,766.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 277,270 shares of the electronics maker’s stock valued at $63,082,000 after acquiring an additional 267,598 shares during the last quarter. Finally, Swedbank AB lifted its holdings in shares of TE Connectivity by 8.1% during the fourth quarter. Swedbank AB now owns 84,831 shares of the electronics maker’s stock worth $19,300,000 after purchasing an additional 6,385 shares during the period. 91.43% of the stock is currently owned by institutional investors.
TE Connectivity Stock Up 0.4%
Shares of NYSE TEL traded up $0.89 during trading on Friday, hitting $199.80. 1,929,190 shares of the company traded hands, compared to its average volume of 2,141,272. The firm has a market capitalization of $58.32 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 1.41 and a beta of 1.17. The business’s fifty day moving average is $206.75 and its 200 day moving average is $217.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.89. TE Connectivity Ltd. has a fifty-two week low of $173.54 and a fifty-two week high of $252.56.
TE Connectivity Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 21st. TE Connectivity’s payout ratio is 31.87%.
Wall Street Analyst Weigh In
TEL has been the subject of a number of recent research reports. Barclays increased their price objective on TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 15th. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $234.00 price objective for the company. in a research report on Thursday, April 23rd. Wall Street Zen cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group set a $286.00 price objective on TE Connectivity in a research note on Wednesday, April 22nd. Finally, UBS Group decreased their target price on TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.92.
Check Out Our Latest Stock Report on TEL
Insiders Place Their Bets
In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider directly owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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