Desjardins Global Asset Management Inc. Decreases Stake in TE Connectivity Ltd. (NYSE:TEL)

Desjardins Global Asset Management Inc. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 28.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,321 shares of the electronics maker’s stock after selling 2,901 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in TE Connectivity were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in TE Connectivity by 358.5% during the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth $30,000. Arlington Trust Co LLC acquired a new stake in shares of TE Connectivity during the third quarter valued at about $35,000. Money Concepts Capital Corp increased its holdings in TE Connectivity by 101.3% in the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 162 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of TE Connectivity by 176.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock valued at $46,000 after buying an additional 210 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $141.48 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a market cap of $43.97 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.03 and a beta of 1.39. The stock has a 50 day moving average of $142.77 and a two-hundred day moving average of $135.37. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the firm posted $1.53 EPS. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is currently 22.39%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TEL has been the topic of several research reports. Citigroup began coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Truist Financial boosted their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. StockNews.com assumed coverage on shares of TE Connectivity in a report on Sunday. They issued a “buy” rating on the stock. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $153.30.

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.