Impax Asset Management Group plc Has $273.75 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Impax Asset Management Group plc cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,942,320 shares of the electronics maker's stock after selling 1,224,508 shares during the quarter. TE Connectivity accounts for 1.6% of Impax Asset Management Group plc's investment portfolio, making the stock its 14th largest holding. Impax Asset Management Group plc owned about 0.65% of TE Connectivity worth $273,750,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its stake in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $43,000. North Capital Inc. bought a new stake in shares of TE Connectivity during the first quarter valued at approximately $46,000. Global X Japan Co. Ltd. bought a new stake in shares of TE Connectivity during the first quarter valued at approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of TE Connectivity by 650.8% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after acquiring an additional 423 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.5%

TEL stock opened at $174.29 on Friday. The stock's fifty day simple moving average is $161.13 and its two-hundred day simple moving average is $149.83. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $175.03. The stock has a market cap of $51.69 billion, a P/E ratio of 38.31, a P/E/G ratio of 2.28 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The business's revenue was up 4.4% on a year-over-year basis. Analysts expect 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. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.63%. TE Connectivity's payout ratio is 62.42%.

Analysts Set New Price Targets

Several research firms have recently commented on TEL. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Citigroup decreased their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group upped their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their price target on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and an average price target of $163.90.

Insider Activity at TE Connectivity

In other news, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president owned 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president owned 24,625 shares of the company's stock, valued at $3,678,728.75. The trade was a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,775 shares of company stock worth $29,596,059 in the last three months. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Company 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.

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