Congress Wealth Management LLC DE Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Congress Wealth Management LLC DE lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,291 shares of the electronics maker’s stock after selling 17,542 shares during the period. Congress Wealth Management LLC DE’s holdings in TE Connectivity were worth $15,339,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in TE Connectivity by 38.0% during the 3rd quarter. Cerity Partners LLC now owns 35,223 shares of the electronics maker’s stock valued at $5,318,000 after acquiring an additional 9,699 shares during the period. Algert Global LLC lifted its position in shares of TE Connectivity by 17.0% during the third quarter. Algert Global LLC now owns 3,857 shares of the electronics maker’s stock worth $582,000 after purchasing an additional 560 shares during the last quarter. Swedbank AB boosted its stake in shares of TE Connectivity by 1.0% during the third quarter. Swedbank AB now owns 70,792 shares of the electronics maker’s stock valued at $10,689,000 after purchasing an additional 684 shares during the period. Summit Trail Advisors LLC grew its holdings in shares of TE Connectivity by 9.0% in the third quarter. Summit Trail Advisors LLC now owns 4,404 shares of the electronics maker’s stock worth $665,000 after purchasing an additional 364 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in TE Connectivity by 5.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 47,874 shares of the electronics maker’s stock worth $7,229,000 after buying an additional 2,649 shares during the period. Institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 2.0 %

NYSE:TEL opened at $149.04 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a market capitalization of $44.47 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.11 and a beta of 1.32. The company’s 50-day simple moving average is $149.07 and its 200-day simple moving average is $148.35. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.91%. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TEL shares. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Truist Financial dropped their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Profile

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.