PNC Financial Services Group Inc. Sells 254 Shares of TE Connectivity Ltd. (NYSE:TEL)

PNC Financial Services Group Inc. trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,882 shares of the electronics maker’s stock after selling 254 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TE Connectivity were worth $16,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in TEL. Allworth Financial LP increased its stake in TE Connectivity by 24.5% in the third quarter. Allworth Financial LP now owns 910 shares of the electronics maker’s stock valued at $112,000 after purchasing an additional 179 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in shares of TE Connectivity in the 3rd quarter valued at about $433,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in TE Connectivity by 14.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,172 shares of the electronics maker’s stock valued at $269,000 after buying an additional 279 shares in the last quarter. US Bancorp DE raised its stake in TE Connectivity by 2.9% during the 3rd quarter. US Bancorp DE now owns 72,155 shares of the electronics maker’s stock worth $8,913,000 after buying an additional 2,050 shares during the period. Finally, Signaturefd LLC boosted its holdings in TE Connectivity by 2.1% in the third quarter. Signaturefd LLC now owns 6,296 shares of the electronics maker’s stock worth $778,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by insiders.

TE Connectivity Stock Performance

TEL stock opened at $151.85 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a market cap of $46.50 billion, a PE ratio of 13.89, a P/E/G ratio of 2.24 and a beta of 1.36. The business has a 50 day moving average of $143.88 and a 200-day moving average of $139.42. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $152.31.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.71%. TE Connectivity’s payout ratio is currently 21.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TEL shares. Stifel Nicolaus boosted their price objective on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, January 25th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Thursday, May 16th. They set a “buy” rating 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 report on Thursday, January 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, Robert W. Baird lowered their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

TE Connectivity 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.