TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Choreo LLC

Key Points

• Choreo LLC has reduced its holdings in TE Connectivity Ltd. by 14%, now owning 8,164 shares valued at approximately $1.15 million as of the latest SEC filing.
• TE Connectivity reported a quarterly EPS of $2.27, exceeding analyst expectations, with revenue increasing 13.9% year-over-year, totaling $4.53 billion.
• The company has announced a quarterly dividend of $0.71 per share, which will be paid on September 12, representing an annualized yield of 1.37%.

Choreo LLC reduced its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 14.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,164 shares of the electronics maker's stock after selling 1,334 shares during the period. Choreo LLC's holdings in TE Connectivity were worth $1,154,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TEL. Nelson Capital Management LLC boosted its holdings in TE Connectivity by 2.1% during the first quarter. Nelson Capital Management LLC now owns 15,401 shares of the electronics maker's stock worth $2,176,000 after buying an additional 317 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in TE Connectivity by 4.9% during the first quarter. HighPoint Advisor Group LLC now owns 5,695 shares of the electronics maker's stock worth $827,000 after buying an additional 267 shares in the last quarter. Millstone Evans Group LLC acquired a new position in TE Connectivity during the first quarter worth $32,000. Lindbrook Capital LLC raised its position in TE Connectivity by 53.4% during the first quarter. Lindbrook Capital LLC now owns 3,442 shares of the electronics maker's stock worth $486,000 after acquiring an additional 1,198 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in TE Connectivity by 2.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 23,073 shares of the electronics maker's stock worth $3,261,000 after acquiring an additional 637 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.4%

Shares of NYSE TEL traded down $0.89 during midday trading on Tuesday, hitting $208.46. The company's stock had a trading volume of 357,526 shares, compared to its average volume of 1,846,554. The business's fifty day simple moving average is $170.65 and its two-hundred day simple moving average is $154.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $212.76. The firm has a market capitalization of $61.82 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $1.91 earnings per share. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.36%. TE Connectivity's dividend payout ratio is currently 58.80%.

Insider Buying and Selling

In related news, CFO Heath A. Mitts sold 53,306 shares of TE Connectivity stock in a transaction that occurred on 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. The trade was a 53.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president owned 24,625 shares of the company's stock, valued at $3,678,728.75. This represents a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,675 shares of company stock valued at $39,794,121 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on TEL shares. JPMorgan Chase & Co. upped their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Citigroup upped their price objective on shares of TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Robert W. Baird upped their price objective on shares of TE Connectivity from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, KGI Securities raised shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

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.