Los Angeles Capital Management LLC trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 56.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,172 shares of the electronics maker's stock after selling 146,500 shares during the period. Los Angeles Capital Management LLC's holdings in TE Connectivity were worth $15,711,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TEL. Ballentine Partners LLC boosted its position in TE Connectivity by 1.4% in the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after buying an additional 68 shares in the last quarter. Vista Investment Management increased its stake in shares of TE Connectivity by 0.5% in the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after buying an additional 70 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after buying an additional 75 shares during the period. Wedmont Private Capital increased its stake in shares of TE Connectivity by 4.3% in the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock valued at $275,000 after buying an additional 80 shares during the period. Finally, First County Bank CT increased its stake in shares of TE Connectivity by 3.6% in the first quarter. First County Bank CT now owns 2,425 shares of the electronics maker's stock valued at $343,000 after buying an additional 84 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have issued reports on TEL. Robert W. Baird boosted their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $148.00 to $186.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group lifted their target price on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Citigroup upgraded shares of TE Connectivity from a "neutral" rating to a "buy" rating and increased their price objective for the company from $150.00 to $200.00 in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $177.10.
Read Our Latest Stock Report on TE Connectivity
TE Connectivity Trading Up 0.9%
NYSE TEL traded up $1.67 during trading on Tuesday, hitting $181.18. 2,954,636 shares of the company's stock traded hands, compared to its average volume of 1,716,742. The stock has a fifty day moving average of $166.46 and a two-hundred day moving average of $152.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $189.98. The firm has a market cap of $53.73 billion, a P/E ratio of 39.82, a PEG ratio of 2.21 and a beta of 1.23.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's dividend payout ratio is currently 62.42%.
Insider Activity at TE Connectivity
In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the completion of the transaction, the chief financial officer owned 45,503 shares of the company's stock, valued at approximately $7,244,532.63. This trade represents a 53.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John S. Jenkins sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president directly owned 24,625 shares of the company's stock, valued at approximately $3,678,728.75. This trade represents 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 valued at $29,596,059 over the last three months. Corporate insiders own 0.90% of the company's stock.
About TE Connectivity
(
Free Report)
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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