Boston Trust Walden Corp Sells 23,669 Shares of TE Connectivity Ltd. $TEL

Key Points

• Boston Trust Walden Corp sold 23,669 shares of TE Connectivity in Q4, a 7.6% reduction that left it with 286,944 shares valued at about $65.28 million, per the firm's Form 13F filing.
• TE Connectivity beat Q4 estimates with EPS of $2.72 vs. $2.55 and revenue of $4.67 billion (+21.7% YoY), and the board authorized a $3.0 billion share repurchase while raising the quarterly dividend to $0.78 (annualized $3.12, 1.3% yield).
• Insiders have sold actively (42,345 shares worth ~$9.63 million over 90 days), institutional ownership stands at 91.43%, and analysts rate the stock a "Moderate Buy" with an average price target of $246.33.

Boston Trust Walden Corp decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,944 shares of the electronics maker's stock after selling 23,669 shares during the period. Boston Trust Walden Corp owned about 0.10% of TE Connectivity worth $65,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Caitlin John LLC bought a new position in TE Connectivity during the third quarter worth about $28,000. Aster Capital Management DIFC Ltd bought a new position in TE Connectivity during the third quarter worth about $29,000. Geneos Wealth Management Inc. lifted its stake in TE Connectivity by 189.6% during the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker's stock worth $33,000 after purchasing an additional 127 shares during the period. SOA Wealth Advisors LLC. lifted its stake in TE Connectivity by 47.4% during the third quarter. SOA Wealth Advisors LLC. now owns 168 shares of the electronics maker's stock worth $37,000 after purchasing an additional 54 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in TE Connectivity during the third quarter worth about $39,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $243.06 on Wednesday. TE Connectivity Ltd. has a 1 year low of $129.59 and a 1 year high of $252.56. The firm has a 50 day moving average of $218.75 and a 200-day moving average of $226.54. The company has a current ratio of 1.65, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $71.32 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 21st. The electronics maker reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.17. TE Connectivity had a net margin of 11.41% and a return on equity of 22.72%. The company had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. TE Connectivity's quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 11.08 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from TE Connectivity's previous quarterly dividend of $0.71. The ex-dividend date is Friday, May 22nd. TE Connectivity's dividend payout ratio is presently 40.98%.

TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Oppenheimer raised their price target on shares of TE Connectivity from $270.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Wells Fargo & Company cut their price target on shares of TE Connectivity from $249.00 to $214.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Barclays raised their price target on shares of TE Connectivity from $297.00 to $302.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Sunday, January 11th. Finally, Jefferies Financial Group upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $246.33.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 9,400 shares of TE Connectivity stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $233.82, for a total value of $2,197,908.00. Following the completion of the transaction, the insider owned 32,541 shares in the company, valued at approximately $7,608,736.62. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Reuben M. Shaffer sold 1,425 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $234.23, for a total transaction of $333,777.75. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 42,345 shares of company stock worth $9,627,260. Insiders own 0.60% of the company's stock.

TE Connectivity Profile

TE Connectivity NYSE: TEL is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company's products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.

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