Aviva PLC Has $26.16 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Aviva PLC lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 32.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,969 shares of the electronics maker’s stock after selling 86,744 shares during the quarter. Aviva PLC owned 0.06% of TE Connectivity worth $26,159,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted its position in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new stake in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth approximately $44,000. Finally, Hilltop National Bank acquired a new position in shares of TE Connectivity in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 6.2 %

NYSE TEL opened at $121.92 on Monday. TE Connectivity Ltd. has a 12 month low of $118.28 and a 12 month high of $159.98. The stock has a 50-day simple moving average of $147.64 and a 200 day simple moving average of $148.07. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $36.38 billion, a PE ratio of 19.48, a P/E/G ratio of 2.11 and a beta of 1.25.

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. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 EPS. Research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is currently 45.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Truist Financial reduced their target price 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. Finally, Citigroup raised their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

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.