TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,131 shares of the electronics maker’s stock after selling 307 shares during the quarter. Resonant Capital Advisors LLC’s holdings in TE Connectivity were worth $721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after buying an additional 308,580 shares during the period. State Street Corp grew its position in TE Connectivity by 19.5% during the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after buying an additional 2,309,835 shares during the period. Geode Capital Management LLC grew its position in TE Connectivity by 1.2% during the first quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock valued at $697,471,000 after buying an additional 62,134 shares during the period. Norges Bank acquired a new stake in TE Connectivity during the fourth quarter valued at $584,131,000. Finally, Invesco Ltd. grew its position in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after buying an additional 154,496 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $140.55 on Friday. The company’s 50-day moving average price is $142.65 and its 200-day moving average price is $135.52. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $43.68 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.00 and a beta of 1.39. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

Insiders Place Their Bets

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. 0.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TEL has been the topic of several analyst reports. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Sunday, April 14th. They set a “buy” rating on the stock. Robert W. Baird lifted their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. Truist Financial lifted their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, Citigroup initiated coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

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.