Cibc World Markets Corp Sells 6,858 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cibc World Markets Corp trimmed its holdings in TE Connectivity Ltd. (NYSE:TELGet Rating) by 37.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,632 shares of the electronics maker’s stock after selling 6,858 shares during the quarter. Cibc World Markets Corp’s holdings in TE Connectivity were worth $1,877,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in TE Connectivity in the 4th quarter worth approximately $25,000. AHL Investment Management Inc. purchased a new stake in shares of TE Connectivity in the 4th quarter worth approximately $26,000. Arlington Partners LLC bought a new position in shares of TE Connectivity in the 4th quarter worth $27,000. Econ Financial Services Corp purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $28,000. Finally, Shore Point Advisors LLC acquired a new stake in TE Connectivity in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

TE Connectivity stock opened at $122.68 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.33. TE Connectivity Ltd. has a 52-week low of $119.58 and a 52-week high of $166.44. The firm has a market capitalization of $39.52 billion, a P/E ratio of 16.21, a PEG ratio of 1.65 and a beta of 1.27. The firm has a fifty day moving average of $126.99 and a 200-day moving average of $143.34.

TE Connectivity (NYSE:TELGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The electronics maker reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.11. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.81 billion. TE Connectivity had a net margin of 16.14% and a return on equity of 22.10%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.57 earnings per share. On average, research analysts expect that TE Connectivity Ltd. will post 7.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 17th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, February 16th. TE Connectivity’s dividend payout ratio is presently 29.59%.

In other news, Director Thomas J. Lynch sold 12,600 shares of the stock in a transaction on Friday, May 6th. The stock was sold at an average price of $126.86, for a total transaction of $1,598,436.00. Following the completion of the sale, the director now owns 11,750 shares in the company, valued at approximately $1,490,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by insiders.

Several brokerages have weighed in on TEL. raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. Truist Financial cut their price target on TE Connectivity from $144.00 to $130.00 and set a “hold” rating for the company in a report on Friday, April 8th. Finally, Morgan Stanley reduced their price objective on shares of TE Connectivity from $167.00 to $151.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Buy” and a consensus price target of $167.20.

About TE Connectivity (Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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