Goldman Sachs Group Inc. Cuts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Goldman Sachs Group Inc. lessened its position in TE Connectivity Ltd. (NYSE:TELGet Rating) by 26.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,176,890 shares of the electronics maker’s stock after selling 421,534 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.36% of TE Connectivity worth $189,879,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new position in TE Connectivity during the 4th quarter worth $25,000. AHL Investment Management Inc. acquired a new position in TE Connectivity during the 4th quarter worth $26,000. Arlington Partners LLC acquired a new position in TE Connectivity during the 4th quarter worth $27,000. Econ Financial Services Corp acquired a new position in TE Connectivity during the 4th quarter worth $28,000. Finally, Shore Point Advisors LLC acquired a new position in TE Connectivity during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Shares of NYSE TEL traded up $2.61 during trading hours on Friday, reaching $125.22. The stock had a trading volume of 1,349,637 shares, compared to its average volume of 1,510,403. The firm has a market cap of $40.34 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.64 and a beta of 1.27. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.33. TE Connectivity Ltd. has a fifty-two week low of $119.81 and a fifty-two week high of $166.44. The firm has a 50-day moving average of $127.44 and a 200-day moving average of $144.30.

TE Connectivity (NYSE:TELGet Rating) last announced its earnings results on Wednesday, April 27th. The electronics maker reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.81 billion. TE Connectivity had a return on equity of 22.10% and a net margin of 16.14%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 EPS. On average, equities analysts predict that TE Connectivity Ltd. will post 7.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, February 17th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, February 16th. TE Connectivity’s dividend payout ratio is presently 26.42%.

Several research analysts recently commented on the company. Morgan Stanley lowered their target price on TE Connectivity from $167.00 to $151.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $170.00 to $176.00 in a research report on Thursday, January 20th. Truist Financial lowered their price objective on TE Connectivity from $144.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, April 8th. Finally, raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $167.20.

In other TE Connectivity news, Director Thomas J. Lynch sold 12,600 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $126.86, for a total transaction of $1,598,436.00. Following the completion of the sale, the director now directly owns 11,750 shares of the company’s stock, valued at approximately $1,490,605. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

About TE Connectivity (Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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