Corebridge Financial Inc. Has $10.04 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Corebridge Financial Inc. trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 19.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 70,190 shares of the electronics maker’s stock after selling 17,137 shares during the period. Corebridge Financial Inc.’s holdings in TE Connectivity were worth $10,035,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new position in TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank purchased a new stake in shares of TE Connectivity in the fourth quarter worth approximately $55,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

TE Connectivity stock opened at $149.69 on Thursday. The business’s 50 day simple moving average is $149.34 and its 200 day simple moving average is $148.41. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a market cap of $44.66 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.11 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.90%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TEL shares. 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. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird raised 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. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Truist Financial decreased their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.