Nuance Investments LLC Sells 60,104 Shares of TE Connectivity Ltd. (NYSE:TEL)

Nuance Investments LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 55.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,836 shares of the electronics maker’s stock after selling 60,104 shares during the period. Nuance Investments LLC’s holdings in TE Connectivity were worth $6,982,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Modera Wealth Management LLC grew its position in shares of TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after purchasing an additional 78 shares during the period. King Luther Capital Management Corp grew its holdings in TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after buying an additional 83 shares in the last quarter. Ascent Wealth Partners LLC boosted its stake in shares of TE Connectivity by 1.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after buying an additional 85 shares during the period. Moors & Cabot Inc. lifted its position in TE Connectivity by 6.0% during the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after purchasing an additional 95 shares during the period. Finally, Callan Capital LLC raised its holdings in shares of TE Connectivity by 5.4% during the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after buying an additional 106 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial reduced their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $150.56 on Wednesday. The firm has a fifty day simple moving average of $149.22 and a two-hundred day simple moving average of $148.40. The firm has a market cap of $44.92 billion, a PE ratio of 24.05, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for 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 revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 EPS. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.89%. TE Connectivity’s payout ratio is presently 45.37%.

About TE Connectivity

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.