TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Sepio Capital LP

Sepio Capital LP lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,372 shares of the electronics maker’s stock after selling 622 shares during the period. Sepio Capital LP’s holdings in TE Connectivity were worth $1,626,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TEL. Nomura Asset Management Co. Ltd. increased its holdings 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 valued at $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $2,920,000. Meyer Handelman Co. raised its holdings in shares of TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares during the period. abrdn plc acquired a new position in TE Connectivity during the 4th quarter worth approximately $15,739,000. Finally, Truist Financial Corp boosted its holdings in TE Connectivity by 32.8% in the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after acquiring an additional 31,991 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

TE Connectivity Price Performance

Shares of TEL opened at $121.92 on Friday. TE Connectivity Ltd. has a 52 week low of $120.99 and a 52 week high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.11 and a beta of 1.25. The stock has a 50 day moving average of $147.64 and a 200-day moving average of $148.05.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current 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 issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.33%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Analyst Ratings Changes

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