IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in TE Connectivity Ltd. by 7.0%, selling 1,273 shares and holding 16,840 shares worth approximately $2.38 million at the end of the quarter.
• Recent insider activity includes EVP John S. Jenkins selling 45,850 shares for over $9.5 million, indicating a significant decrease in ownership.
• TE Connectivity reported earnings of $2.27 per share, exceeding analysts' expectations, with a revenue increase of 13.9% year-over-year.

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,840 shares of the electronics maker's stock after selling 1,273 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in TE Connectivity were worth $2,380,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $820,000. World Investment Advisors acquired a new position in TE Connectivity during the fourth quarter valued at $211,000. Thoroughbred Financial Services LLC increased its position in TE Connectivity by 15.9% in the 4th quarter. Thoroughbred Financial Services LLC now owns 3,849 shares of the electronics maker's stock worth $550,000 after purchasing an additional 527 shares during the last quarter. Envestnet Asset Management Inc. increased its position in TE Connectivity by 5.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,223,538 shares of the electronics maker's stock worth $174,928,000 after purchasing an additional 67,583 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of TE Connectivity by 10.9% during the 4th quarter. Wedbush Securities Inc. now owns 10,701 shares of the electronics maker's stock valued at $1,530,000 after acquiring an additional 1,052 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insider Activity

In related news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. This represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total value of $10,198,062.00. Following the sale, the insider owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. The trade was a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,470 shares of company stock valued at $45,313,205. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TEL. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Thursday, April 24th. KGI Securities upgraded TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. UBS Group raised their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.

TE Connectivity Stock Down 0.9%

Shares of TE Connectivity stock traded down $1.72 during trading on Wednesday, reaching $199.82. The stock had a trading volume of 1,798,446 shares, compared to its average volume of 2,289,051. The company has a market capitalization of $59.04 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 2.41 and a beta of 1.23. The stock has a fifty day moving average price of $176.05 and a two-hundred day moving average price of $156.86. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $212.76. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.

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

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders 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 yield of 1.4%. TE Connectivity's dividend payout ratio is presently 58.80%.

About TE Connectivity

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.