Brookstone Capital Management Sells 134 Shares of TE Connectivity Ltd. (NYSE:TEL)

Brookstone Capital Management lessened its stake in shares of TE Connectivity Ltd. (NYSE:TELFree Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,067 shares of the electronics maker’s stock after selling 134 shares during the period. Brookstone Capital Management’s holdings in TE Connectivity were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of TE Connectivity in the 4th quarter valued at about $584,131,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of TE Connectivity by 119,784.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,247,666 shares of the electronics maker’s stock valued at $372,832,000 after acquiring an additional 3,244,957 shares during the last quarter. State Street Corp lifted its holdings in shares of TE Connectivity by 19.5% in the 1st quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after acquiring an additional 2,309,835 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of TE Connectivity in the 3rd quarter valued at about $165,640,000. Finally, Morgan Stanley lifted its holdings in shares of TE Connectivity by 56.5% in the 4th quarter. Morgan Stanley now owns 3,569,840 shares of the electronics maker’s stock valued at $409,818,000 after acquiring an additional 1,289,023 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $141.63 on Wednesday. The firm has a market cap of $44.02 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. The firm’s 50 day simple moving average is $141.04 and its 200-day simple moving average is $133.18. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $146.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86.

TE Connectivity (NYSE:TELGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. As a group, equities analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity declared that its board has initiated a stock buyback program on Tuesday, December 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 22.39%.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the subject of a number of analyst reports. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Robert W. Baird raised their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Wells Fargo & Company initiated coverage on shares of TE Connectivity in a research note on Friday, December 15th. They issued an “equal weight” rating and a $144.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Check Out Our Latest Stock Report on TEL

TE Connectivity Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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