First National Trust Co Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

First National Trust Co decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 32.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,448 shares of the electronics maker’s stock after selling 3,638 shares during the period. First National Trust Co’s holdings in TE Connectivity were worth $1,046,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TEL. Qube Research & Technologies Ltd purchased a new position in shares of TE Connectivity in the third quarter worth about $165,640,000. Assenagon Asset Management S.A. increased its holdings in shares of TE Connectivity by 273.5% in the third quarter. Assenagon Asset Management S.A. now owns 651,291 shares of the electronics maker’s stock worth $80,454,000 after buying an additional 476,929 shares during the period. Morgan Stanley increased its holdings in shares of TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after buying an additional 390,723 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of TE Connectivity by 61.5% in the third quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock worth $118,229,000 after buying an additional 364,377 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of TE Connectivity by 251.3% in the third quarter. Hsbc Holdings PLC now owns 386,082 shares of the electronics maker’s stock worth $47,675,000 after buying an additional 276,183 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.4 %

Shares of TE Connectivity stock traded up $1.99 on Friday, hitting $142.00. 1,197,854 shares of the company traded hands, compared to its average volume of 2,325,435. The stock’s 50 day moving average price is $142.46 and its 200-day moving average price is $136.77. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a market cap of $43.48 billion, a PE ratio of 12.99, a PEG ratio of 2.09 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. Equities research analysts predict that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 21.59%.

Insider Activity at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TEL shares. Truist Financial lifted their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. StockNews.com began coverage on shares of TE Connectivity in a research note on Tuesday, April 30th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus raised their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus target price of $153.50.

TE Connectivity Company 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.