Boston Partners Sells 127,640 Shares of TE Connectivity Ltd. (NYSE:TEL)

Boston Partners decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,004,651 shares of the electronics maker’s stock after selling 127,640 shares during the period. Boston Partners owned approximately 0.67% of TE Connectivity worth $286,665,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the fourth quarter worth $26,000. SRS Capital Advisors Inc. boosted its holdings in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new position in TE Connectivity during the fourth quarter worth $43,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity during the fourth quarter worth $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE:TEL opened at $146.80 on Wednesday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The firm has a market cap of $43.80 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.11 and a beta of 1.32. The firm’s 50-day simple moving average is $148.67 and its 200 day simple moving average is $148.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping 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 period last year, the firm earned $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.93%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Truist Financial cut their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Citigroup increased their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $167.00.

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.