First National Trust Co Sells 1,452 Shares of TE Connectivity Ltd. (NYSE:TEL)

First National Trust Co reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 39.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,194 shares of the electronics maker’s stock after selling 1,452 shares during the period. First National Trust Co’s holdings in TE Connectivity were worth $314,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Assetmark Inc. raised its position in TE Connectivity by 11.9% in the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock valued at $342,000 after buying an additional 241 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in TE Connectivity by 17.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock valued at $300,000 after buying an additional 288 shares during the last quarter. Victory Capital Management Inc. raised its position in TE Connectivity by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock valued at $22,167,000 after buying an additional 1,154 shares during the last quarter. Huntington National Bank raised its position in TE Connectivity by 5.6% in the 3rd quarter. Huntington National Bank now owns 3,870 shares of the electronics maker’s stock valued at $585,000 after buying an additional 204 shares during the last quarter. Finally, KBC Group NV raised its position in TE Connectivity by 53.9% in the 3rd quarter. KBC Group NV now owns 102,617 shares of the electronics maker’s stock valued at $15,495,000 after buying an additional 35,959 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on TEL shares. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Truist Financial decreased their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Up 3.5 %

Shares of TEL opened at $146.22 on Friday. The business has a 50-day moving average of $148.53 and a 200 day moving average of $148.50. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm has a market cap of $43.63 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. 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 issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 41.53%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

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.