TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,646 shares of the electronics maker’s stock after selling 177 shares during the period. Sentry Investment Management LLC’s holdings in TE Connectivity were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in TE Connectivity by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after purchasing an additional 308,580 shares during the last quarter. State Street Corp increased its holdings in TE Connectivity by 19.5% in the 1st quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after purchasing an additional 2,309,835 shares during the last quarter. Geode Capital Management LLC increased its holdings in TE Connectivity by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock valued at $697,471,000 after purchasing an additional 62,134 shares during the last quarter. Norges Bank acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $584,131,000. Finally, Invesco Ltd. increased its holdings in TE Connectivity by 3.5% in the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after purchasing an additional 154,496 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock opened at $142.79 on Wednesday. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98. The stock has a market cap of $44.38 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 2.02 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. The company has a fifty day simple moving average of $142.78 and a 200-day simple moving average of $135.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the company earned $1.53 earnings per share. TE Connectivity’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TEL shares. Robert W. Baird lifted their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Stifel Nicolaus raised their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Truist Financial raised their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Five 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.30.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction 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 transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.

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.