ARGA Investment Management LP Cuts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

ARGA Investment Management LP decreased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. Crossmark Global Holdings Inc. increased its position in TE Connectivity by 0.3% in the first quarter. Crossmark Global Holdings Inc. now owns 81,161 shares of the electronics maker's stock worth $11,470,000 after buying an additional 234 shares in the last quarter. Security National Bank of SO Dak grew its position in shares of TE Connectivity by 1.0% during the first quarter. Security National Bank of SO Dak now owns 10,815 shares of the electronics maker's stock valued at $1,528,000 after purchasing an additional 103 shares in the last quarter. Financial Counselors Inc. increased its stake in TE Connectivity by 4.3% in the 1st quarter. Financial Counselors Inc. now owns 165,572 shares of the electronics maker's stock worth $23,399,000 after acquiring an additional 6,780 shares during the last quarter. Callan Capital LLC increased its position in TE Connectivity by 5.3% in the first quarter. Callan Capital LLC now owns 2,180 shares of the electronics maker's stock worth $308,000 after purchasing an additional 109 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of TE Connectivity by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,303,733 shares of the electronics maker's stock worth $184,244,000 after buying an additional 80,195 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

TEL has been the subject of several analyst reports. Wall Street Zen lowered shares of TE Connectivity from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. UBS Group increased their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group lowered their price objective 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. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $171.70.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded up $2.11 during trading on Friday, hitting $177.14. 1,542,540 shares of the company's stock were exchanged, compared to its average volume of 1,712,222. The business has a 50-day simple moving average of $163.83 and a 200-day simple moving average of $150.83. The stock has a market capitalization of $52.53 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 2.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $179.00.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its 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 firm had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

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

Insider Activity at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 13,100 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total value of $2,227,000.00. Following the completion of the sale, the insider directly owned 23,657 shares in the company, valued at $4,021,690. The trade was a 35.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider owned 25,976 shares in the company, valued at $4,130,963.28. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock valued at $29,596,059 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

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.