Quantinno Capital Management LP lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232,508 shares of the electronics maker’s stock after selling 9,706 shares during the period. Quantinno Capital Management LP’s holdings in TE Connectivity were worth $48,599,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker’s stock valued at $8,741,226,000 after purchasing an additional 168,142 shares during the period. State Street Corp grew its holdings in TE Connectivity by 0.6% during the 4th quarter. State Street Corp now owns 13,105,219 shares of the electronics maker’s stock valued at $2,981,572,000 after buying an additional 76,292 shares in the last quarter. Geode Capital Management LLC grew its holdings in TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker’s stock valued at $1,425,669,000 after buying an additional 161,967 shares in the last quarter. Bank of America Corp DE increased its position in shares of TE Connectivity by 27.5% during the second quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker’s stock valued at $1,058,390,000 after buying an additional 1,352,152 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of TE Connectivity by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker’s stock worth $1,001,907,000 after buying an additional 144,353 shares in the last quarter. 91.43% of the stock is owned by institutional investors.
TE Connectivity Stock Down 3.6%
Shares of TEL opened at $206.63 on Thursday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23. The stock has a 50 day simple moving average of $205.96 and a two-hundred day simple moving average of $214.47. The firm has a market cap of $59.82 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.43 and a beta of 1.17.
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 $0.78 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s payout ratio is currently 30.59%.
Insider Transactions at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Truist Financial cut their price objective on shares of TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of TE Connectivity in a research note on Friday, July 24th. Robert W. Baird cut their price target on shares of TE Connectivity from $240.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. The Goldman Sachs Group set a $286.00 price target on shares of TE Connectivity in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $251.15.
Read 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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