Korea Investment CORP Reduces Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Korea Investment CORP lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,725 shares of the electronics maker’s stock after selling 35,532 shares during the quarter. Korea Investment CORP’s holdings in TE Connectivity were worth $40,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Amundi purchased a new position in TE Connectivity during the 4th quarter valued at about $159,992,000. Nordea Investment Management AB purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of TE Connectivity by 2,330.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after acquiring an additional 722,565 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

TEL has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock 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 lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company 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 report on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Down 1.8 %

NYSE TEL opened at $147.00 on Friday. The firm has a market capitalization of $43.86 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a 50-day simple moving average of $149.41 and a 200-day simple moving average of $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 posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 earnings per share. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.93%. TE Connectivity’s dividend payout ratio is 45.37%.

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.