OLD National Bancorp IN Sells 297 Shares of TE Connectivity Ltd. (NYSE:TEL)

OLD National Bancorp IN lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.2% during the fourth quarter, Holdings Channel reports. The fund owned 1,951 shares of the electronics maker’s stock after selling 297 shares during the period. OLD National Bancorp IN’s holdings in TE Connectivity were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. IFP Advisors Inc lifted its position in TE Connectivity by 35.9% during the 3rd quarter. IFP Advisors Inc now owns 2,036 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 538 shares during the period. Founders Financial Securities LLC lifted its position in TE Connectivity by 8.9% during the 3rd quarter. Founders Financial Securities LLC now owns 1,650 shares of the electronics maker’s stock valued at $204,000 after purchasing an additional 135 shares during the period. GHP Investment Advisors Inc. lifted its position in TE Connectivity by 14.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock valued at $92,000 after purchasing an additional 94 shares during the period. Caprock Group LLC lifted its position in TE Connectivity by 2.9% during the 3rd quarter. Caprock Group LLC now owns 5,493 shares of the electronics maker’s stock valued at $679,000 after purchasing an additional 156 shares during the period. Finally, Czech National Bank lifted its position in TE Connectivity by 47.2% during the 3rd quarter. Czech National Bank now owns 54,900 shares of the electronics maker’s stock valued at $6,782,000 after purchasing an additional 17,596 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $140.44 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45. The company has a market capitalization of $43.65 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company’s 50 day moving average price is $142.59 and its two-hundred day moving average price is $136.06. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm 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 business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. On average, analysts expect that TE Connectivity Ltd. will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

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 issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction that occurred 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 sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TEL. Citigroup began coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Monday. They issued a “buy” rating on the stock. Truist Financial increased their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus price target of $153.50.

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.