Anchor Capital Advisors LLC Sells 20,556 Shares of TE Connectivity Ltd. (NYSE:TEL)

Anchor Capital Advisors LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,523 shares of the electronics maker’s stock after selling 20,556 shares during the quarter. TE Connectivity makes up about 1.4% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Anchor Capital Advisors LLC owned about 0.12% of TE Connectivity worth $52,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TEL. International Assets Investment Management LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth about $10,759,000. Nordea Investment Management AB increased its holdings in shares of TE Connectivity by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after purchasing an additional 41,198 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of TE Connectivity by 518.3% in the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after purchasing an additional 130,515 shares during the last quarter. Patten Group Inc. bought a new stake in shares of TE Connectivity in the fourth quarter worth about $220,000. Finally, Ninety One North America Inc. increased its holdings in shares of TE Connectivity by 39.4% in the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock worth $8,611,000 after purchasing an additional 17,322 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEL. Robert W. Baird reduced their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. JPMorgan Chase & Co. dropped their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group assumed coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Finally, Truist Financial lifted their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $153.50.

TE Connectivity Trading Up 1.9 %

Shares of NYSE:TEL traded up $2.61 during trading hours on Monday, hitting $142.82. 1,695,098 shares of the company’s stock traded hands, compared to its average volume of 2,213,339. The business has a fifty day moving average price of $142.55 and a 200-day moving average price of $136.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm has a market capitalization of $44.39 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. Equities analysts expect that TE Connectivity Ltd. will post 7.55 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

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.