Janney Capital Management LLC Sells 350 Shares of TE Connectivity Ltd. (NYSE:TEL)

Janney Capital Management LLC lowered its position in TE Connectivity Ltd. (NYSE:TELFree Report) by 14.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,158 shares of the electronics maker’s stock after selling 350 shares during the period. Janney Capital Management LLC’s holdings in TE Connectivity were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. JFS Wealth Advisors LLC raised its holdings in TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 91 shares in the last quarter. Jones Financial Companies Lllp lifted its position in TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the period. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity during the fourth quarter worth about $30,000. EdgeRock Capital LLC bought a new position in shares of TE Connectivity during the fourth quarter valued at approximately $41,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEL. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a research report on Wednesday, May 8th. They issued a “buy” rating for the company. Truist Financial increased 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. Stifel Nicolaus lifted their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group started coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $153.89.

Check Out Our Latest Research Report on TEL

TE Connectivity Stock Performance

Shares of NYSE TEL traded up $2.17 during midday trading on Wednesday, hitting $151.46. 1,331,979 shares of the stock traded hands, compared to its average volume of 2,117,818. The firm has a 50-day moving average of $142.85 and a two-hundred day moving average of $138.36. The firm has a market capitalization of $46.38 billion, a P/E ratio of 13.86, a PEG ratio of 2.18 and a beta of 1.36. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $151.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45.

TE Connectivity (NYSE:TELGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. The business 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 company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.51 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is 21.59%.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

About TE Connectivity

(Free Report)

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.

See Also

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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