TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,869 shares of the electronics maker’s stock after selling 142 shares during the period. Lee Danner & Bass Inc.’s holdings in TE Connectivity were worth $410,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its holdings in shares of TE Connectivity by 117.6% in the fourth 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 position in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $44,000. Finally, Hilltop National Bank acquired a new position in TE Connectivity during the 4th quarter worth approximately $55,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on TEL shares. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus price target of $167.00.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Stock Performance

NYSE:TEL opened at $146.10 on Friday. 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 Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The stock has a market cap of $43.59 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The firm’s fifty day simple moving average is $148.91 and its 200-day simple moving average is $148.33.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

About TE Connectivity

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.