Sepio Capital LP Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Sepio Capital LP lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,372 shares of the electronics maker’s stock after selling 622 shares during the quarter. Sepio Capital LP’s holdings in TE Connectivity were worth $1,626,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Peapack Gladstone Financial Corp boosted its holdings in TE Connectivity by 5.6% during the fourth quarter. Peapack Gladstone Financial Corp now owns 122,671 shares of the electronics maker’s stock worth $17,538,000 after buying an additional 6,497 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of TE Connectivity by 42.6% during the 4th quarter. Russell Investments Group Ltd. now owns 440,273 shares of the electronics maker’s stock valued at $62,942,000 after acquiring an additional 131,431 shares during the period. Wedbush Securities Inc. boosted its stake in shares of TE Connectivity by 10.9% during the 4th quarter. Wedbush Securities Inc. now owns 10,701 shares of the electronics maker’s stock worth $1,530,000 after acquiring an additional 1,052 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in TE Connectivity by 5.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,223,538 shares of the electronics maker’s stock valued at $174,928,000 after purchasing an additional 67,583 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in TE Connectivity by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 95,172 shares of the electronics maker’s stock worth $13,607,000 after purchasing an additional 1,271 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by insiders.

TE Connectivity Trading Down 6.2 %

Shares of TEL opened at $121.92 on Friday. TE Connectivity Ltd. has a fifty-two week low of $120.99 and a fifty-two week high of $159.98. The stock has a fifty day moving average of $147.64 and a two-hundred day moving average of $148.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $36.38 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

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

Analyst Upgrades and Downgrades

TEL has been the topic of several research reports. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Citigroup upped their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $167.00.

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.