TE Connectivity Ltd. (NYSE:TEL) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 39.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 625 shares of the electronics maker’s stock after selling 408 shares during the quarter. UMB Bank n.a.’s holdings in TE Connectivity were worth $88,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TEL. SRS Capital Advisors Inc. lifted its holdings in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $43,000. Deseret Mutual Benefit Administrators purchased a new stake in TE Connectivity in the 4th quarter valued at approximately $57,000. Loomis Sayles & Co. L P grew its holdings in TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock valued at $71,000 after buying an additional 123 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in TE Connectivity by 150.0% during the fourth quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker’s stock worth $71,000 after buying an additional 300 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.1%

Shares of TE Connectivity stock opened at $165.98 on Friday. The stock has a market cap of $49.22 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $167.94. The company has a fifty day moving average price of $149.51 and a 200 day moving average price of $148.02.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm earned $1.86 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, August 22nd. TE Connectivity’s dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In related news, CFO Heath A. Mitts sold 53,306 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the sale, the chief financial officer now owns 45,503 shares of the company’s stock, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares of the company’s stock, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,675 shares of company stock valued at $27,369,059. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen lowered TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. Truist Financial cut their price objective on shares of TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Finally, Vertical Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $162.50.

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.