PNC Financial Services Group Inc. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,231 shares of the electronics maker’s stock after selling 6,030 shares during the period. PNC Financial Services Group Inc.’s holdings in TE Connectivity were worth $23,877,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in TE Connectivity in the fourth quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new stake in TE Connectivity during the 4th quarter valued at $40,000. MV Capital Management Inc. purchased a new position in shares of TE Connectivity in the 4th quarter valued at $41,000. JFS Wealth Advisors LLC raised its position in shares of TE Connectivity by 54.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Finally, Westfuller Advisors LLC raised its position in shares of TE Connectivity by 120.2% in the 4th quarter. Westfuller Advisors LLC now owns 185 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 101 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Trading Up 2.1%
TE Connectivity stock opened at $202.95 on Friday. The stock has a 50-day moving average of $205.36 and a two-hundred day moving average of $215.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.88. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The stock has a market cap of $59.24 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17.
TE Connectivity Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. TE Connectivity’s payout ratio is currently 30.59%.
Insider Transactions at TE Connectivity
In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This represents a 26.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on TEL shares. UBS Group reiterated a “buy” rating and issued a $241.00 target price on shares of TE Connectivity in a research note on Thursday. Robert W. Baird lowered their price target on shares of TE Connectivity from $240.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday. Zacks Research downgraded shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. HSBC lowered 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 note on Thursday, April 23rd. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.15.
View Our Latest Research Report on TE Connectivity
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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