Amalgamated Bank Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Amalgamated Bank lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,260 shares of the electronics maker’s stock after selling 628 shares during the quarter. Amalgamated Bank’s holdings in TE Connectivity were worth $6,781,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TEL. Qube Research & Technologies Ltd purchased a new position in TE Connectivity during the 3rd quarter worth $165,640,000. Assenagon Asset Management S.A. lifted its position in TE Connectivity by 273.5% in the third quarter. Assenagon Asset Management S.A. now owns 651,291 shares of the electronics maker’s stock valued at $80,454,000 after purchasing an additional 476,929 shares during the period. Morgan Stanley boosted its holdings in TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares in the last quarter. JPMorgan Chase & Co. increased its position in TE Connectivity by 61.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock worth $118,229,000 after purchasing an additional 364,377 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of TE Connectivity by 251.3% in the 3rd quarter. Hsbc Holdings PLC now owns 386,082 shares of the electronics maker’s stock valued at $47,675,000 after buying an additional 276,183 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

NYSE:TEL opened at $142.00 on Monday. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. The company’s 50-day moving average is $142.46 and its two-hundred day moving average is $136.96. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.83%. TE Connectivity’s payout ratio is currently 21.59%.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Truist Financial raised their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird decreased their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 30th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

Insider Buying and Selling

In other news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.86% of the stock is currently owned by company insiders.

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.