IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 3,346 Shares of TE Connectivity Ltd. (NYSE:TEL)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 15.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,113 shares of the electronics maker’s stock after selling 3,346 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in TE Connectivity were worth $2,590,000 at the end of the most recent quarter.

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

TE Connectivity Stock Performance

NYSE TEL opened at $149.69 on Thursday. The company’s 50 day moving average is $149.34 and its 200-day moving average is $148.41. The firm has a market cap of $44.66 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. 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 announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, May 21st. 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 1.90%. TE Connectivity’s dividend payout ratio is currently 45.37%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Finally, Truist Financial dropped their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, TE Connectivity has a consensus rating of “Hold” and an average target price of $167.00.

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.