Pacer Advisors Inc. Sells 10,438 Shares of TE Connectivity Ltd. (NYSE:TEL)

Key Points

• Pacer Advisors Inc. has reduced its stake in TE Connectivity Ltd. by 28.8% in the first quarter, now holding 25,752 shares valued at approximately $3.64 million.
• Insider selling has been notable, with Malavika Sagar and John S. Jenkins collectively selling over 47,000 shares of TE Connectivity, indicating significant decreases in their ownership stakes.
• TE Connectivity recently reported earnings of $2.27 per share, surpassing analyst expectations, and announced a quarterly dividend of $0.71 per share to be paid on September 12th.

Pacer Advisors Inc. lowered its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 28.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,752 shares of the electronics maker's stock after selling 10,438 shares during the quarter. Pacer Advisors Inc.'s holdings in TE Connectivity were worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of TE Connectivity in the first quarter worth approximately $32,000. North Capital Inc. acquired a new stake in shares of TE Connectivity in the first quarter worth $46,000. Global X Japan Co. Ltd. acquired a new stake in shares of TE Connectivity in the first quarter worth $47,000. Bartlett & CO. Wealth Management LLC lifted its stake in shares of TE Connectivity by 650.8% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after buying an additional 423 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of TE Connectivity by 32.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock worth $71,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of TEL traded down $4.57 during midday trading on Friday, reaching $201.18. 1,080,479 shares of the stock were exchanged, compared to its average volume of 1,855,389. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $212.76. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The company has a market cap of $59.44 billion, a P/E ratio of 41.71, a PEG ratio of 2.47 and a beta of 1.23. The stock's 50 day simple moving average is $173.44 and its 200 day simple moving average is $155.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share 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 during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm earned $1.91 earnings per share. The company's revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

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 $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) is presently 58.80%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Bank of America lifted their price target on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $194.80.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider owned 25,976 shares in the company, valued at approximately $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Malavika Sagar sold 3,125 shares of the firm's stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 258,470 shares of company stock valued at $45,313,205 in the last ninety days. Insiders own 0.90% of the company's stock.

TE Connectivity 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.