DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 164,505 Shares of TE Connectivity Ltd. (NYSE:TEL)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 65.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 88,722 shares of the electronics maker’s stock after selling 164,505 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in TE Connectivity were worth $12,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Meyer Handelman Co. raised its stake in shares of TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after purchasing an additional 9,175 shares in the last quarter. abrdn plc bought a new position in shares of TE Connectivity during the 4th quarter worth about $15,739,000. Truist Financial Corp boosted its position in shares of TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after acquiring an additional 31,991 shares in the last quarter. Carnegie Investment Counsel increased its stake in TE Connectivity by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock valued at $17,019,000 after acquiring an additional 4,913 shares during the period. Finally, Merit Financial Group LLC acquired a new position in TE Connectivity in the fourth quarter worth about $237,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 0.5 %

Shares of NYSE TEL opened at $152.85 on Friday. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98. The company has a 50-day moving average of $140.60 and a two-hundred day moving average of $146.18. The company has a market cap of $45.33 billion, a PE ratio of 24.42, a P/E/G ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.86%. TE Connectivity’s dividend payout ratio (DPR) is currently 62.42%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TEL shares. Robert W. Baird lifted their price objective on TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Thursday, April 24th. Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Friday, April 25th. Finally, The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

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.