TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Aviva PLC

Posted by Defense World Staff on May 30th, 2023

Aviva PLC decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 6.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 66,416 shares of the electronics maker’s stock after selling 4,362 shares during the period. Aviva PLC’s holdings in TE Connectivity were worth $3,498,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Teza Capital Management LLC purchased a new position in shares of TE Connectivity in the third quarter worth $691,000. National Bank of Canada FI grew its holdings in shares of TE Connectivity by 347.6% during the fourth quarter. National Bank of Canada FI now owns 128,841 shares of the electronics maker’s stock valued at $14,790,000 after buying an additional 100,058 shares during the last quarter. Strategic Investment Advisors MI grew its holdings in shares of TE Connectivity by 16.5% during the fourth quarter. Strategic Investment Advisors MI now owns 6,569 shares of the electronics maker’s stock valued at $754,000 after buying an additional 928 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of TE Connectivity by 13.6% during the third quarter. Blair William & Co. IL now owns 59,498 shares of the electronics maker’s stock valued at $6,566,000 after buying an additional 7,146 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of TE Connectivity by 15.8% during the fourth quarter. Ieq Capital LLC now owns 10,511 shares of the electronics maker’s stock worth $1,207,000 after purchasing an additional 1,434 shares during the period. Institutional investors and hedge funds own 91.10% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, CFO Heath A. Mitts sold 9,418 shares of TE Connectivity stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $123.12, for a total transaction of $1,159,544.16. Following the sale, the chief financial officer now owns 28,163 shares of the company’s stock, valued at approximately $3,467,428.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Heath A. Mitts sold 9,418 shares of TE Connectivity stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $123.12, for a total transaction of $1,159,544.16. Following the sale, the chief financial officer now owns 28,163 shares of the company’s stock, valued at approximately $3,467,428.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John S. Jenkins sold 25,025 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $122.32, for a total transaction of $3,061,058.00. Following the completion of the sale, the executive vice president now owns 22,486 shares in the company, valued at $2,750,487.52. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

TE Connectivity Stock Up 3.0 %

NYSE TEL opened at $122.78 on Tuesday. The company has a market cap of $38.69 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.70 and a beta of 1.31. TE Connectivity Ltd. has a one year low of $104.76 and a one year high of $138.24. The business has a fifty day moving average price of $124.10 and a 200 day moving average price of $124.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.05 and a current ratio of 1.69.

TE Connectivity (NYSE:TEL – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The electronics maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.07. TE Connectivity had a net margin of 12.95% and a return on equity of 20.36%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business posted $1.81 earnings per share. TE Connectivity’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that TE Connectivity Ltd. will post 6.56 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 16th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.92%. TE Connectivity’s payout ratio is 35.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $132.00 to $137.00 and gave the stock a “neutral” rating in a report on Wednesday, April 19th. Wolfe Research lowered shares of TE Connectivity from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 9th. StockNews.com raised TE Connectivity from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Credit Suisse Group raised TE Connectivity from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $136.00 to $138.00 in a report on Thursday, May 18th. Finally, Truist Financial decreased their price objective on TE Connectivity from $131.00 to $127.00 in a report on Thursday, April 27th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $139.00.

TE Connectivity Company Profile

(Get Rating)

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.