Advisors Asset Management Inc. Has $3.58 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Advisors Asset Management Inc. decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 6.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,049 shares of the electronics maker’s stock after selling 1,820 shares during the period. Advisors Asset Management Inc.’s holdings in TE Connectivity were worth $3,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new stake in TE Connectivity in the 4th quarter valued at $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the 4th quarter valued at $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEL shares. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Truist Financial cut their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Citigroup boosted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Down 1.0 %

Shares of TEL stock opened at $146.29 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm’s 50-day moving average is $148.80 and its 200-day moving average is $148.38. The stock has a market cap of $43.65 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business earned $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 45.37%.

About TE Connectivity

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.