TE Connectivity Ltd. (NYSE:TEL) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 13.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 138,413 shares of the electronics maker’s stock after selling 21,084 shares during the quarter. National Bank of Canada FI’s holdings in TE Connectivity were worth $19,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TEL. Bruce G. Allen Investments LLC acquired a new position in TE Connectivity during the 4th quarter valued at about $30,000. Jones Financial Companies Lllp grew its holdings in TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $45,000. Exchange Traded Concepts LLC boosted its position in TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 210 shares during the period. Finally, BKM Wealth Management LLC bought a new position in shares of TE Connectivity in the fourth quarter worth $48,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TEL shares. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. StockNews.com started coverage on TE Connectivity in a report on Wednesday. They set a “buy” rating on the stock. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Truist Financial boosted their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus price target of $153.89.

Insider Activity

In related news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is owned by company insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $143.24 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The company has a market capitalization of $43.86 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The stock has a fifty day moving average of $142.44 and a 200-day moving average of $137.30. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. TE Connectivity’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 earnings per share. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.51 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 21.59%.

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.