Farmers & Merchants Investments Inc. Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Farmers & Merchants Investments Inc. lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TELFree Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,412 shares of the electronics maker’s stock after selling 160 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in TE Connectivity were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in TE Connectivity by 3.6% in the second quarter. IHT Wealth Management LLC now owns 2,321 shares of the electronics maker’s stock worth $325,000 after buying an additional 80 shares during the last quarter. Vista Investment Management lifted its position in TE Connectivity by 0.7% in the third quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock worth $1,479,000 after buying an additional 84 shares during the last quarter. Bison Wealth LLC lifted its position in TE Connectivity by 1.4% in the third quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker’s stock worth $812,000 after buying an additional 88 shares during the last quarter. Caprock Group LLC lifted its position in TE Connectivity by 1.6% in the fourth quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker’s stock worth $784,000 after buying an additional 88 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in TE Connectivity by 14.2% in the third quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock worth $92,000 after buying an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEL. Citigroup began coverage on TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target for the company. StockNews.com assumed coverage on TE Connectivity in a research note on Friday, March 29th. They issued a “buy” rating on the stock. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Truist Financial increased their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company assumed coverage on TE Connectivity in a research note on Friday, December 15th. They issued an “equal weight” rating and a $144.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Check Out Our Latest Stock Report on TEL

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $142.74 on Wednesday. The firm has a market cap of $44.36 billion, a P/E ratio of 13.54, a P/E/G ratio of 2.05 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $146.84. The stock’s fifty day moving average price is $142.34 and its 200-day moving average price is $133.73.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. On average, equities research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.82%. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

TE Connectivity declared that its board has initiated a share buyback program on Tuesday, December 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

TE Connectivity Profile

(Free Report)

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.

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

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