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

Huntington National Bank trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,583 shares of the electronics maker’s stock after selling 287 shares during the quarter. Huntington National Bank’s holdings in TE Connectivity were worth $512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in TE Connectivity by 13.9% during the third quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker’s stock worth $1,974,000 after acquiring an additional 1,600 shares during the period. Benjamin Edwards Inc. lifted its position in shares of TE Connectivity by 2,193.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker’s stock valued at $329,000 after acquiring an additional 2,084 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in shares of TE Connectivity by 101.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 3,907 shares of the electronics maker’s stock worth $590,000 after acquiring an additional 1,963 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of TE Connectivity by 28.5% during the 3rd quarter. HighTower Advisors LLC now owns 58,803 shares of the electronics maker’s stock worth $8,873,000 after acquiring an additional 13,027 shares in the last quarter. Finally, Point72 DIFC Ltd grew its holdings in shares of TE Connectivity by 346.5% in the 3rd quarter. Point72 DIFC Ltd now owns 6,251 shares of the electronics maker’s stock worth $944,000 after acquiring an additional 4,851 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $121.92 on Friday. TE Connectivity Ltd. has a fifty-two week low of $120.99 and a fifty-two week high of $159.98. The stock’s 50-day moving average is $147.64 and its two-hundred day moving average is $148.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market cap of $36.38 billion, a P/E ratio of 19.48, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 earnings per share. Analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.33%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Truist Financial decreased their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.00.

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.