Great Lakes Retirement Inc. Decreases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Great Lakes Retirement Inc. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,280 shares of the electronics maker’s stock after selling 241 shares during the period. Great Lakes Retirement Inc.’s holdings in TE Connectivity were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC grew its position in shares of TE Connectivity by 3.6% in the 2nd quarter. IHT Wealth Management LLC now owns 2,321 shares of the electronics maker’s stock worth $325,000 after buying an additional 80 shares during the last quarter. Vista Investment Management increased its holdings in shares of TE Connectivity by 0.7% during the third quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock valued at $1,479,000 after acquiring an additional 84 shares in the last quarter. Bison Wealth LLC raised its position in shares of TE Connectivity by 1.4% in the 3rd quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker’s stock valued at $812,000 after purchasing an additional 88 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in TE Connectivity by 14.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock worth $92,000 after purchasing an additional 94 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in TE Connectivity by 0.8% during the 3rd quarter. Naples Global Advisors LLC now owns 11,493 shares of the electronics maker’s stock valued at $1,420,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Activity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL traded up $0.31 during trading on Thursday, hitting $145.24. The company had a trading volume of 1,543,502 shares, compared to its average volume of 2,170,847. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $141.26 and a two-hundred day simple moving average of $133.28. The firm has a market capitalization of $45.14 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $146.84.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 earnings per share. On average, research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity declared that its board has approved a share repurchase program on Tuesday, December 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.79%. TE Connectivity’s dividend payout ratio is presently 22.39%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TEL shares. Citigroup initiated coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. Wells Fargo & Company assumed coverage on TE Connectivity in a report on Friday, December 15th. They set an “equal weight” rating and a $144.00 target price on the stock. Truist Financial lifted their price target on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird upped their price objective on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $146.67.

TE Connectivity Company 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.