Simplicity Solutions LLC Sells 95 Shares of TE Connectivity Ltd. (NYSE:TEL)

Simplicity Solutions LLC cut its position in TE Connectivity Ltd. (NYSE:TEL) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,629 shares of the electronics maker’s stock after selling 95 shares during the quarter. Simplicity Solutions LLC’s holdings in TE Connectivity were worth $369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in TE Connectivity in the 4th quarter worth about $30,000. Arlington Trust Co LLC bought a new stake in TE Connectivity in the 3rd quarter valued at about $35,000. Money Concepts Capital Corp grew its position in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 162 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of TE Connectivity by 176.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 210 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the company’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 transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

TEL has been the subject of several recent research reports. Citigroup began coverage on TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target for the company. Stifel Nicolaus upped their target price on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. raised their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Truist Financial upped their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $153.30.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $140.55 on Friday. The firm has a 50 day simple moving average of $142.65 and a 200 day simple moving average of $135.52. The company has a market cap of $43.68 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.00 and a beta of 1.39. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the business posted $1.53 EPS. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company 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 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 22.39%.

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.