Fieldview Capital Management LLC reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 85.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,836 shares of the electronics maker’s stock after selling 10,783 shares during the period. Fieldview Capital Management LLC’s holdings in TE Connectivity were worth $403,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Caitlin John LLC acquired a new position in shares of TE Connectivity in the third quarter worth approximately $28,000. Aster Capital Management DIFC Ltd acquired a new stake in TE Connectivity during the 3rd quarter valued at approximately $29,000. SOA Wealth Advisors LLC. raised its holdings in TE Connectivity by 47.4% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 168 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 54 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in TE Connectivity during the 3rd quarter worth approximately $39,000. Finally, Neo Ivy Capital Management acquired a new position in shares of TE Connectivity in the 2nd quarter worth approximately $30,000. Institutional investors own 91.43% of the company’s stock.
TE Connectivity Price Performance
Shares of NYSE TEL opened at $203.31 on Wednesday. The firm has a market capitalization of $59.66 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.57 and a beta of 1.23. The firm’s 50-day moving average price is $227.25 and its 200-day moving average price is $226.07. The company has a current ratio of 1.65, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $250.67.
TE Connectivity Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. TE Connectivity’s payout ratio is currently 40.98%.
Insider Transactions at TE Connectivity
In related news, EVP John S. Jenkins sold 6,155 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $222.81, for a total value of $1,371,395.55. Following the transaction, the executive vice president directly owned 21,810 shares in the company, valued at $4,859,486.10. This trade represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction on Friday, February 13th. The shares were sold at an average price of $233.82, for a total transaction of $2,197,908.00. Following the completion of the sale, the insider directly owned 32,541 shares of the company’s stock, valued at approximately $7,608,736.62. The trade was a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,945 shares of company stock valued at $7,528,616 over the last ninety days. 0.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on TEL shares. Oppenheimer increased their price objective on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Wells Fargo & Company upped their price target on shares of TE Connectivity from $245.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, January 22nd. Zacks Research upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Barclays boosted their price objective on TE Connectivity from $297.00 to $302.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, Truist Financial raised their target price on TE Connectivity from $240.00 to $244.00 and gave the stock a “hold” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $251.93.
Check Out Our Latest Stock Report on TEL
About TE Connectivity
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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