Principal Financial Group Inc. Sells 1,523 Shares of TE Connectivity Ltd. (NYSE:TEL)

Principal Financial Group Inc. lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 324,941 shares of the electronics maker's stock after selling 1,523 shares during the quarter. Principal Financial Group Inc. owned 0.11% of TE Connectivity worth $45,921,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TEL. Steward Partners Investment Advisory LLC increased its position in TE Connectivity by 14.5% during the fourth 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 grew its holdings in TE Connectivity by 128.4% during the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after acquiring an additional 8,728 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in TE Connectivity by 1.1% during the first 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 in the last quarter. Beverly Hills Private Wealth LLC boosted its position in TE Connectivity by 61.2% during the fourth 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its position 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 worth $473,000 after purchasing an additional 628 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analyst Weigh In

TEL has been the topic of several recent analyst reports. Vertical Research upgraded 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. UBS Group increased their target price on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 30th. HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target for the company in a report on Thursday, April 24th. Robert W. Baird increased their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $163.90.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded up $0.60 during trading on Tuesday, reaching $171.74. The company's stock had a trading volume of 66,486 shares, compared to its average volume of 1,707,303. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The business's fifty day moving average price is $161.65 and its 200-day moving average price is $150.09. The firm has a market cap of $50.93 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $175.03.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) 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 firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the company posted $1.86 earnings per share. The company's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 13,100 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total value of $2,227,000.00. Following the transaction, the insider directly owned 23,657 shares in the company, valued at approximately $4,021,690. This trade represents a 35.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the transaction, the chief financial officer owned 45,503 shares in the company, valued at $7,244,532.63. The trade was a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,775 shares of company stock worth $29,596,059 over the last 90 days. Company 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.