Impax Asset Management Group plc Reduces Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Impax Asset Management Group plc reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 38.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,942,320 shares of the electronics maker's stock after selling 1,224,508 shares during the quarter. TE Connectivity makes up about 1.6% of Impax Asset Management Group plc's holdings, making the stock its 14th biggest holding. Impax Asset Management Group plc owned about 0.65% of TE Connectivity worth $273,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in shares of TE Connectivity by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock worth $949,000 after buying an additional 841 shares during the period. J. Safra Sarasin Holding AG lifted its stake in shares of TE Connectivity by 128.4% in the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after purchasing an additional 8,728 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of TE Connectivity by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker's stock worth $2,479,000 after purchasing an additional 192 shares during the period. Beverly Hills Private Wealth LLC lifted its stake in shares of TE Connectivity by 61.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 11,103 shares of the electronics maker's stock worth $1,587,000 after purchasing an additional 4,214 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in TE Connectivity by 23.5% during the fourth quarter. Jones Financial Companies Lllp now owns 3,305 shares of the electronics maker's stock valued at $473,000 after purchasing an additional 628 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.7%

TE Connectivity stock traded up $1.24 during mid-day trading on Tuesday, hitting $172.38. The company had a trading volume of 1,498,299 shares, compared to its average volume of 1,710,990. The stock has a market cap of $51.12 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.24 and a beta of 1.23. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $175.03. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $162.19 and a 200 day moving average of $150.25.

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, beating 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 during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the company earned $1.86 earnings per share. The company's revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

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 given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 62.42%.

Insider Activity

In other TE Connectivity news, SVP Malavika Sagar sold 3,125 shares of TE Connectivity 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 completion of the sale, the senior vice president owned 5,927 shares in the company, valued at $948,320. The trade was a 34.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president owned 24,625 shares of the company's stock, valued at $4,010,181.25. This trade represents a 45.31% 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 worth $29,596,059 in the last quarter. Corporate insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TEL shares. Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $156.00 to $170.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 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. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, 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. Five 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $163.90.

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.