Tyler Stone Wealth Management Cuts Holdings in TE Connectivity Ltd. (NYSE:TEL)

Tyler Stone Wealth Management lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 26.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,490 shares of the electronics maker’s stock after selling 530 shares during the period. Tyler Stone Wealth Management’s holdings in TE Connectivity were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Nomura Asset Management Co. Ltd. raised its position in TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after buying an additional 9,670 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $2,920,000. Glenmede Trust Co. NA lifted its position in TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the period. Meyer Handelman Co. boosted its holdings in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the last quarter. Finally, abrdn plc bought a new stake in TE Connectivity in the 4th quarter worth approximately $15,739,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

NYSE:TEL opened at $149.69 on Thursday. The business’s 50-day simple moving average is $149.34 and its two-hundred day simple moving average is $148.41. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap of $44.66 billion, a PE ratio of 23.91, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s payout ratio is currently 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEL. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Company 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.