TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers has reduced its stake in TE Connectivity by 5.5%, selling 2,557 shares and now holding 44,217 shares valued at approximately $6.25 million.
• TE Connectivity recently reported earnings of $2.27 per share for the quarter, exceeding analysts' estimates, with revenue of $4.53 billion reflecting a 13.9% increase year-over-year.
• The company declared a quarterly dividend of $0.71, which will be paid on September 12th, representing an annualized dividend yield of 1.4% and a payout ratio of 58.80%.

Cetera Investment Advisers lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,217 shares of the electronics maker's stock after selling 2,557 shares during the quarter. Cetera Investment Advisers' holdings in TE Connectivity were worth $6,249,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Ballentine Partners LLC grew its stake in TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock valued at $703,000 after acquiring an additional 68 shares in the last quarter. Vista Investment Management grew its position in shares of TE Connectivity by 0.5% in the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock valued at $1,891,000 after purchasing an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of TE Connectivity by 2.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock valued at $534,000 after purchasing an additional 75 shares during the last quarter. Wedmont Private Capital lifted its position in TE Connectivity by 4.3% during the first quarter. Wedmont Private Capital now owns 1,944 shares of the electronics maker's stock worth $275,000 after buying an additional 80 shares in the last quarter. Finally, AllSquare Wealth Management LLC grew its holdings in TE Connectivity by 7.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock valued at $180,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 1.1%

TEL traded up $2.19 during mid-day trading on Monday, hitting $204.12. 1,819,296 shares of the stock were exchanged, compared to its average volume of 2,236,960. The firm's fifty day moving average is $174.32 and its two-hundred day moving average is $156.14. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76. The company has a market cap of $60.31 billion, a PE ratio of 24.42, a PEG ratio of 2.42 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.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $1.91 earnings per share. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced 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 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 58.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TEL shares. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. HSBC raised 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. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. KGI Securities upgraded TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Finally, UBS Group increased their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of "Moderate Buy" and an average price target of $194.80.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the 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 of the company's stock, valued at $4,130,963.28. This trade represents a 49.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Malavika Sagar sold 3,125 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the transaction, the senior vice president directly owned 5,927 shares of the company's stock, valued at approximately $948,320. This represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,470 shares of company stock valued at $45,313,205 in the last 90 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.