TE Connectivity Ltd. (NYSE:TEL) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI reduced its stake in TE Connectivity Ltd. by 4.3%, now owning approximately 0.08% of the company, valued at about $32.22 million.
• TE Connectivity reported earnings of $2.27 per share for the last quarter, exceeding estimates, with revenue up 13.9% compared to the previous year.
• The company announced a quarterly dividend of $0.71 per share, representing an annual yield of 1.4%, with a payout ratio of 58.80%.

National Bank of Canada FI trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 228,005 shares of the electronics maker's stock after selling 10,204 shares during the quarter. National Bank of Canada FI owned about 0.08% of TE Connectivity worth $32,222,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted 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 valued at $2,479,000 after purchasing an additional 192 shares in the last quarter. J. Safra Sarasin Holding AG boosted its position in TE Connectivity by 128.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after buying an additional 8,728 shares during the period. Beverly Hills Private Wealth LLC raised its holdings in TE Connectivity by 61.2% during 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 last quarter. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock worth $801,101,000 after purchasing an additional 592,072 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of TE Connectivity by 2.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,879 shares of the electronics maker's stock valued at $3,516,000 after acquiring an additional 511 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Aaron Kyle Stucki sold 52,900 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the transaction, the insider owned 23,667 shares of the company's stock, valued at approximately $4,562,524.26. This represents a 69.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. The trade was a 29.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,795 shares of company stock worth $26,401,597. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TEL. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a report on Thursday, July 24th. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a report on Thursday, April 24th. Bank of America boosted their price objective on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. UBS Group boosted their price objective on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Evercore ISI upped their price target on TE Connectivity from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $197.55.

TE Connectivity Stock Performance

Shares of TEL stock traded up $1.94 during trading hours on Wednesday, reaching $206.08. 60,174 shares of the company traded hands, compared to its average volume of 1,843,234. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $212.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The company has a market cap of $60.89 billion, a P/E ratio of 42.54, a P/E/G ratio of 2.39 and a beta of 1.23. The firm has a 50-day moving average price of $180.09 and a 200 day moving average price of $158.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the previous year, the firm earned $1.91 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share 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 $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 1.4%. TE Connectivity's dividend payout ratio (DPR) 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.