Mach 1 Financial Group LLC Sells 599 Shares of TE Connectivity Ltd. (NYSE:TEL)

Mach 1 Financial Group LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,215 shares of the electronics maker’s stock after selling 599 shares during the period. TE Connectivity comprises approximately 0.8% of Mach 1 Financial Group LLC’s holdings, making the stock its 28th largest position. Mach 1 Financial Group LLC’s holdings in TE Connectivity were worth $2,138,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TEL. Jones Financial Companies Lllp raised its holdings in shares of TE Connectivity by 358.5% in the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of TE Connectivity in the fourth quarter worth approximately $30,000. Arlington Trust Co LLC purchased a new stake in shares of TE Connectivity in the third quarter worth approximately $35,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter worth approximately $45,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of TE Connectivity by 176.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after buying an additional 210 shares during the period. 91.43% of the stock is owned by institutional investors.

Insider Transactions at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

TE Connectivity Stock Down 0.9 %

NYSE TEL traded down $1.35 during midday trading on Tuesday, hitting $141.47. 2,083,911 shares of the company traded hands, compared to its average volume of 2,211,779. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company has a market cap of $43.97 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company’s 50-day simple moving average is $142.58 and its 200-day simple moving average is $136.60. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 7.55 earnings per share 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. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.84%. TE Connectivity’s payout ratio is 21.59%.

Wall Street Analyst Weigh In

TEL has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. Truist Financial raised their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, StockNews.com initiated coverage on TE Connectivity in a report on Tuesday. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average target price of $153.50.

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.