ARGA Investment Management LP Has $1.69 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

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

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

Insiders Place Their Bets

In related news, SVP Malavika Sagar sold 3,125 shares of the firm's 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 sale, the senior vice president directly owned 5,927 shares of the company's stock, valued at $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the sale, the executive vice president directly owned 24,625 shares in the company, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock valued at $29,596,059 over the last ninety days. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEL. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective on the stock in a research report on Thursday, April 24th. Truist Financial lowered their price objective on TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. UBS Group increased their price objective on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Robert W. Baird raised their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.70.

TE Connectivity Price Performance

NYSE:TEL traded up $2.09 during trading hours on Friday, hitting $177.12. The company's stock had a trading volume of 451,280 shares, compared to its average volume of 1,707,608. The stock has a fifty day simple moving average of $163.29 and a 200-day simple moving average of $150.62. The company has a market capitalization of $52.52 billion, a P/E ratio of 38.90, a PEG ratio of 2.26 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $179.00.

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

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

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.