Ninety One UK Ltd Sells 171,650 Shares of TE Connectivity Ltd. (NYSE:TEL)

Ninety One UK Ltd trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 9.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,679,216 shares of the electronics maker’s stock after selling 171,650 shares during the quarter. Ninety One UK Ltd’s holdings in TE Connectivity were worth $235,930,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in TE Connectivity by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after acquiring an additional 308,580 shares in the last quarter. State Street Corp lifted its holdings in shares of TE Connectivity by 19.5% during the first 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 in the last quarter. Geode Capital Management LLC increased its position in TE Connectivity by 1.2% during the first quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock valued at $697,471,000 after acquiring an additional 62,134 shares during the last quarter. Norges Bank purchased a new stake in TE Connectivity during the fourth quarter valued at $584,131,000. Finally, Invesco Ltd. increased its position in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock valued at $564,794,000 after acquiring an additional 154,496 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

TE Connectivity stock traded down $0.13 during midday trading on Thursday, reaching $141.35. 698,227 shares of the stock traded hands, compared to its average volume of 2,084,863. The stock’s fifty day moving average is $142.77 and its 200-day moving average is $135.37. 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 $43.93 billion, a P/E ratio of 13.42, a PEG ratio of 2.03 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion during 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 company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $1.53 EPS. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was 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 of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TEL shares. Truist Financial upped 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. Stifel Nicolaus upped their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird upped their price target on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com started coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating for the company. Finally, Citigroup started 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average price target of $153.30.

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.