Robeco Schweiz AG Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Robeco Schweiz AG cut its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,160 shares of the electronics maker's stock after selling 12,820 shares during the quarter. Robeco Schweiz AG owned about 0.05% of TE Connectivity worth $21,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cerity Partners LLC increased its holdings in shares of TE Connectivity by 3.6% in the 1st quarter. Cerity Partners LLC now owns 40,486 shares of the electronics maker's stock valued at $5,721,000 after acquiring an additional 1,389 shares during the period. Telos Capital Management Inc. purchased a new position in TE Connectivity during the 1st quarter worth $6,719,000. Financial Gravity Asset Management Inc. purchased a new position in TE Connectivity during the 1st quarter worth $101,000. Alps Advisors Inc. grew its stake in TE Connectivity by 4.1% during the 1st quarter. Alps Advisors Inc. now owns 28,296 shares of the electronics maker's stock worth $3,999,000 after buying an additional 1,116 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its stake in TE Connectivity by 0.9% during the 1st quarter. Leavell Investment Management Inc. now owns 20,247 shares of the electronics maker's stock worth $2,861,000 after buying an additional 190 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TE Connectivity

In other TE Connectivity 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 transaction of $3,975,750.00. Following the completion of the sale, the insider owned 25,976 shares of the company's stock, valued at $4,130,963.28. This trade represents a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at approximately $4,010,181.25. This trade represents a 45.31% 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 90 days. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TEL shares. JPMorgan Chase & Co. boosted their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price target on TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Bank of America lifted their price target on TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday. Vertical Research raised TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group lowered their price target on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.90.

TE Connectivity Stock Up 1.3%

Shares of TEL opened at $174.92 on Friday. The company has a market capitalization of $51.87 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 2.26 and a beta of 1.23. The stock's 50-day moving average price is $163.29 and its 200-day moving average price is $150.62. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $176.99.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 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 during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter last year, the firm earned $1.86 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS 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 issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.62%. TE Connectivity's dividend payout ratio is presently 62.42%.

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.

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