RWC Asset Management LLP Has $16.28 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Key Points

• RWC Asset Management LLP reduced its stake in TE Connectivity Ltd. by 11.9%, selling 15,588 shares, and now holds 115,220 shares valued at approximately $16.28 million.
• TE Connectivity reported $2.27 EPS for the last quarter, exceeding estimates of $2.08, along with a quarterly revenue of $4.53 billion, up 13.9% from the previous year.
• The company announced a dividend of $0.71 per share, representing a 1.37% yield, payable on September 12th, with the ex-dividend date on August 22nd.

RWC Asset Management LLP lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,220 shares of the electronics maker's stock after selling 15,588 shares during the quarter. RWC Asset Management LLP's holdings in TE Connectivity were worth $16,283,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TEL. Brighton Jones LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth $820,000. Virtu Financial LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at $202,000. TIAA Trust National Association raised its position in shares of TE Connectivity by 8.7% during the fourth quarter. TIAA Trust National Association now owns 3,122 shares of the electronics maker's stock worth $446,000 after acquiring an additional 251 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of TE Connectivity during the fourth quarter valued at $216,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in TE Connectivity by 6.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 474,521 shares of the electronics maker's stock valued at $67,572,000 after acquiring an additional 26,689 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TEL has been the topic of several recent research reports. UBS Group raised their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wells Fargo & Company upped their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Citigroup upped their price objective on TE Connectivity from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and a consensus target price of $194.80.

TE Connectivity Stock Down 0.3%

Shares of TE Connectivity stock traded down $0.64 on Thursday, reaching $206.04. 704,675 shares of the company were exchanged, compared to its average volume of 1,852,458. The company has a market capitalization of $60.88 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 2.52 and a beta of 1.23. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $172.52 and a 200 day moving average of $155.12. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $212.76.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the company posted $1.91 EPS. TE Connectivity's quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders 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 dividend yield of 1.38%. TE Connectivity's payout ratio is currently 58.80%.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the transaction, the senior vice president directly owned 4,716 shares in the company, valued at approximately $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 288,470 shares of company stock worth $49,794,905 in the last ninety days. Insiders own 0.90% of the company's stock.

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.