Mackenzie Financial Corp Sells 8,939 Shares of TE Connectivity Ltd. (NYSE:TEL)

Mackenzie Financial Corp lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,579 shares of the electronics maker’s stock after selling 8,939 shares during the quarter. Mackenzie Financial Corp’s holdings in TE Connectivity were worth $5,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock valued at $3,617,824,000 after purchasing an additional 308,580 shares in the last quarter. State Street Corp boosted its holdings in TE Connectivity by 19.5% in the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock worth $1,851,648,000 after acquiring an additional 2,309,835 shares in the last quarter. Geode Capital Management LLC boosted its holdings in TE Connectivity by 1.2% in the first quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock worth $697,471,000 after acquiring an additional 62,134 shares in the last quarter. Norges Bank acquired a new stake in TE Connectivity in the fourth quarter worth about $584,131,000. Finally, Invesco Ltd. boosted its holdings in TE Connectivity by 3.5% in the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after acquiring an additional 154,496 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the subject of several recent analyst reports. StockNews.com initiated coverage on TE Connectivity in a report on Sunday, April 14th. They issued a “buy” rating for the company. Truist Financial raised their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Robert W. Baird lifted their target price on TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Jefferies Financial Group started coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Up 0.0 %

Shares of TEL stock opened at $140.55 on Friday. The stock has a 50 day moving average of $142.65 and a 200 day moving average of $135.61. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a market cap of $43.68 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.00 and a beta of 1.39. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. TE Connectivity’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 22.39%.

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.