TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,927 shares of the electronics maker’s stock after selling 195 shares during the period. Cornercap Investment Counsel Inc.’s holdings in TE Connectivity were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several analysts recently issued reports on TEL shares. 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 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 boosted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Down 3.4 %

Shares of NYSE TEL opened at $142.04 on Friday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The business’s 50 day moving average is $149.32 and its two-hundred day moving average is $148.41. The firm has a market cap of $42.38 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. Research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by 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.