TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Commerce Bank

Commerce Bank reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,672 shares of the electronics maker’s stock after selling 37,838 shares during the period. Commerce Bank owned approximately 0.13% of TE Connectivity worth $55,311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after buying an additional 91 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after buying an additional 190 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in TE Connectivity during the 4th quarter worth approximately $30,000. Crewe Advisors LLC purchased a new stake in TE Connectivity during the 4th quarter worth approximately $33,000. Finally, Sachetta LLC purchased a new stake in TE Connectivity during the 4th quarter worth approximately $34,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

TEL has been the topic of several analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. StockNews.com assumed coverage on TE Connectivity in a report on Thursday, May 16th. They set a “buy” rating on the stock. Finally, Truist Financial lifted their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $153.89.

TE Connectivity Stock Performance

NYSE:TEL traded down $0.53 during midday trading on Thursday, reaching $150.48. 683,264 shares of the company traded hands, compared to its average volume of 2,054,208. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $152.79. The firm has a market capitalization of $46.08 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company has a fifty day moving average price of $144.08 and a 200 day moving average price of $139.50.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd. will post 7.5 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.73%. TE Connectivity’s dividend payout ratio is currently 21.59%.

About TE Connectivity

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.