TE Connectivity Ltd. (NYSE:TEL) Position Reduced by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,646 shares of the electronics maker’s stock after selling 177 shares during the quarter. Sentry Investment Management LLC’s holdings in TE Connectivity were worth $231,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEL. Cibc World Market Inc. lifted its position in shares of TE Connectivity by 63.8% in the 1st quarter. Cibc World Market Inc. now owns 11,366 shares of the electronics maker’s stock worth $1,489,000 after buying an additional 4,427 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of TE Connectivity by 16.2% in the 1st quarter. Cetera Investment Advisers now owns 25,817 shares of the electronics maker’s stock worth $3,382,000 after buying an additional 3,598 shares during the last quarter. Dakota Wealth Management lifted its position in shares of TE Connectivity by 23.0% in the 1st quarter. Dakota Wealth Management now owns 4,259 shares of the electronics maker’s stock worth $558,000 after buying an additional 797 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of TE Connectivity by 108.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker’s stock worth $437,000 after buying an additional 1,739 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of TE Connectivity by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after buying an additional 308,580 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target on the stock. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Sunday. They issued a “buy” rating on the stock. Citigroup initiated coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. Truist Financial lifted 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, JPMorgan Chase & Co. lifted their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.30.

TE Connectivity Stock Up 0.5 %

TE Connectivity stock opened at $142.79 on Wednesday. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.02 and a beta of 1.39. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $142.78 and its two-hundred day moving average price is $135.32. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. On average, analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid 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 currently 22.39%.

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.