ARGA Investment Management LP Sells 1,786 Shares of TE Connectivity Ltd. (NYSE:TEL)

ARGA Investment Management LP lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,931 shares of the electronics maker's stock after selling 1,786 shares during the period. ARGA Investment Management LP's holdings in TE Connectivity were worth $1,686,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in TE Connectivity during the 4th quarter worth $43,000. North Capital Inc. bought a new position in shares of TE Connectivity during the first quarter worth about $46,000. Global X Japan Co. Ltd. bought a new position in shares of TE Connectivity during the first quarter worth about $47,000. Bartlett & CO. Wealth Management LLC lifted its position in TE Connectivity by 650.8% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after purchasing an additional 423 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several analyst reports. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Friday, April 25th. Hsbc Global Res raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group reduced their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $156.00 to $170.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Finally, HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $163.90.

Insider Activity

In related news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president directly owned 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer owned 45,503 shares in the company, valued at $7,244,532.63. This represents a 53.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,775 shares of company stock worth $29,596,059. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

TEL stock traded up $0.20 on Wednesday, hitting $172.63. 1,586,234 shares of the company's stock traded hands, compared to its average volume of 1,711,473. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $182.39. The stock has a market cap of $51.19 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 2.25 and a beta of 1.23. The stock has a fifty day moving average of $162.19 and a 200-day moving average of $150.25. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.65%. TE Connectivity's dividend payout ratio is currently 62.42%.

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.