TE Connectivity Ltd. (NYSE:TEL) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.0% during the 1st quarter, according to its most recent 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 quarter. ARGA Investment Management LP's holdings in TE Connectivity were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TEL. Fairway Wealth LLC bought a new position in TE Connectivity in the 4th quarter valued at $43,000. North Capital Inc. purchased a new stake in shares of TE Connectivity in the 1st quarter worth $46,000. Global X Japan Co. Ltd. bought a new position in shares of TE Connectivity during the 1st quarter worth $47,000. Bartlett & CO. Wealth Management LLC grew its position in shares of 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 in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in shares of 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 in the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of TEL stock traded up $2.54 during mid-day trading on Thursday, reaching $175.19. The stock had a trading volume of 996,665 shares, compared to its average volume of 1,709,103. The business's fifty day moving average is $162.72 and its 200-day moving average is $150.40. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a market cap of $51.95 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.25 and a beta of 1.23. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $175.66.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates 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%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. On average, research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Insider Activity

In related news, CFO Heath A. Mitts sold 53,306 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer directly owned 45,503 shares of the company's stock, valued at $7,244,532.63. This trade represents a 53.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,775 shares of company stock valued at $29,596,059 over the last 90 days. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TEL shares. Wells Fargo & Company increased their price target on TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Citigroup dropped their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research report on Thursday, April 24th. Robert W. Baird upped their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen cut TE Connectivity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.90.

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.