TE Connectivity Ltd. (NYSE:TEL) Shares Sold by First National Trust Co

First National Trust Co trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 32.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,448 shares of the electronics maker’s stock after selling 3,638 shares during the period. First National Trust Co’s holdings in TE Connectivity were worth $1,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. raised its stake in shares of TE Connectivity by 3.5% in the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after acquiring an additional 154,496 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TE Connectivity by 3.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,521,469 shares of the electronics maker’s stock valued at $558,537,000 after acquiring an additional 145,605 shares during the period. Impax Asset Management Group plc raised its stake in shares of TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after acquiring an additional 51,866 shares during the period. Morgan Stanley raised its stake in shares of TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the period. Finally, Northern Trust Corp raised its stake in shares of TE Connectivity by 3.6% in the 3rd quarter. Northern Trust Corp now owns 2,672,201 shares of the electronics maker’s stock valued at $330,097,000 after acquiring an additional 93,882 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TEL shares. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 30th. They set a “buy” rating on the stock. Truist Financial upped their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Stifel Nicolaus upped their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

TE Connectivity Stock Up 1.4 %

Shares of NYSE:TEL traded up $1.99 during trading hours on Friday, reaching $142.00. The stock had a trading volume of 1,197,854 shares, compared to its average volume of 2,325,435. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm’s 50 day moving average is $142.46 and its 200-day moving average is $136.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The stock has a market capitalization of $43.48 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the firm posted $1.65 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Research analysts predict that TE Connectivity Ltd. will post 7.51 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 21.59%.

Insider Activity

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

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.