UNIVEST FINANCIAL Corp reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,867 shares of the electronics maker’s stock after selling 3,158 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in TE Connectivity were worth $13,140,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in TE Connectivity during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. grew its position in shares of TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at $40,000. MV Capital Management Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $41,000. Finally, JFS Wealth Advisors LLC lifted its holdings in TE Connectivity by 54.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. 91.43% of the stock is owned by institutional investors.
TE Connectivity Price Performance
Shares of TEL traded up $0.89 during trading hours on Friday, reaching $199.80. 1,929,190 shares of the company’s stock traded hands, compared to its average volume of 2,141,272. TE Connectivity Ltd. has a 12 month low of $173.54 and a 12 month high of $252.56. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The stock has a market cap of $58.32 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The firm’s 50 day simple moving average is $206.75 and its 200-day simple moving average is $217.05.
TE Connectivity Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $0.78 per share. The ex-dividend date is Friday, August 21st. This represents a $3.12 annualized dividend and a dividend yield of 1.6%. TE Connectivity’s dividend payout ratio (DPR) is 31.87%.
Insider Buying and Selling at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction 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 completion of the sale, the insider directly owned 25,976 shares of the company’s stock, valued at approximately $5,584,840. The trade was a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on TEL. Truist Financial reduced their target price on TE Connectivity from $244.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. UBS Group reduced their price objective on shares of TE Connectivity from $272.00 to $261.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Wall Street Zen cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Sunday. Evercore reissued an “in-line” rating and issued a $230.00 price target on shares of TE Connectivity in a report on Monday, June 22nd. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. One investment 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 company. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $259.92.
Read Our Latest Analysis on TEL
About TE Connectivity
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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