Cwm LLC Sells 428 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cwm LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,682 shares of the electronics maker’s stock after selling 428 shares during the period. Cwm LLC’s holdings in TE Connectivity were worth $798,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in TE Connectivity during the 4th quarter valued at about $10,759,000. Nordea Investment Management AB grew its stake in TE Connectivity by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after purchasing an additional 41,198 shares during the last quarter. SG Americas Securities LLC grew its stake in TE Connectivity by 518.3% during the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after purchasing an additional 130,515 shares during the last quarter. Patten Group Inc. purchased a new stake in TE Connectivity during the 4th quarter valued at about $220,000. Finally, Ninety One North America Inc. grew its stake in TE Connectivity by 39.4% during the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after purchasing an additional 17,322 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TEL shares. JPMorgan Chase & Co. dropped their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Citigroup started coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Stifel Nicolaus upped their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Truist Financial upped 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. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $153.50.

Insider Activity at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $142.80 on Tuesday. The business has a 50 day simple moving average of $142.56 and a two-hundred day simple moving average of $136.46. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The stock has a market capitalization of $44.38 billion, a P/E ratio of 13.06, a PEG ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, analysts predict that TE Connectivity Ltd. will post 7.55 EPS for the current fiscal year.

TE Connectivity Announces Dividend

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 issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. TE Connectivity’s dividend payout ratio is presently 21.59%.

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.