TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,215 shares of the electronics maker’s stock after selling 599 shares during the period. TE Connectivity makes up 0.8% of Mach 1 Financial Group LLC’s portfolio, making the stock its 28th biggest position. Mach 1 Financial Group LLC’s holdings in TE Connectivity were worth $2,138,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in TE Connectivity in the 4th quarter valued at about $10,759,000. Nordea Investment Management AB grew its position in TE Connectivity by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after buying an additional 41,198 shares in the last quarter. SG Americas Securities LLC grew its position in TE Connectivity by 518.3% in the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after buying an additional 130,515 shares in the last quarter. Patten Group Inc. bought a new position in TE Connectivity in the 4th quarter valued at about $220,000. Finally, Ninety One North America Inc. grew its position in TE Connectivity by 39.4% in 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 buying an additional 17,322 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Citigroup began coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective for the company. Jefferies Financial Group began coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, StockNews.com began coverage on shares of TE Connectivity in a research report on Tuesday. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $153.50.

TE Connectivity Stock Down 0.9 %

Shares of NYSE TEL traded down $1.35 during mid-day trading on Tuesday, reaching $141.47. The company had a trading volume of 2,083,911 shares, compared to its average volume of 2,211,779. The stock has a fifty day moving average of $142.58 and a two-hundred day moving average of $136.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The company has a market capitalization of $43.97 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.06 and a beta of 1.39. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98.

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

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 21.59%.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by insiders.

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.