TE Connectivity Ltd. (NYSE:TEL) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,396,994 shares of the electronics maker's stock after selling 352,628 shares during the period. Bank of New York Mellon Corp owned approximately 1.14% of TE Connectivity worth $480,063,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Calamos Advisors LLC boosted its stake in shares of TE Connectivity by 1.0% during the 1st quarter. Calamos Advisors LLC now owns 69,897 shares of the electronics maker's stock worth $9,878,000 after acquiring an additional 717 shares in the last quarter. North Capital Inc. purchased a new position in TE Connectivity during the 1st quarter valued at about $46,000. Resonant Capital Advisors LLC grew its position in shares of TE Connectivity by 12.2% in the first quarter. Resonant Capital Advisors LLC now owns 6,295 shares of the electronics maker's stock valued at $890,000 after purchasing an additional 685 shares during the last quarter. Glassy Mountain Advisors Inc. purchased a new stake in TE Connectivity in the 1st quarter valued at approximately $2,665,000. Finally, Keybank National Association OH lifted its position in shares of TE Connectivity by 8.5% in the first quarter. Keybank National Association OH now owns 7,788 shares of the electronics maker's stock valued at $1,101,000 after acquiring an additional 607 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 13,100 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,227,000.00. Following the completion of the transaction, the insider owned 23,657 shares in the company, valued at $4,021,690. The trade was a 35.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the sale, the executive vice president owned 24,625 shares in the company, valued at approximately $4,010,181.25. This represents a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock valued at $29,596,059 over the last three months. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TEL shares. Robert W. Baird boosted their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Citigroup cut their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company raised their target price on shares of TE Connectivity from $156.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. UBS Group boosted their price target on TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and a consensus target price of $163.90.

TE Connectivity Stock Down 1.9%

Shares of NYSE:TEL traded down $3.24 during midday trading on Monday, hitting $171.05. 1,341,282 shares of the company's stock traded hands, compared to its average volume of 1,713,692. The firm's fifty day moving average price is $161.13 and its two-hundred day moving average price is $149.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $178.40. The company has a market cap of $50.72 billion, a PE ratio of 22.03, a P/E/G ratio of 2.28 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal 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 given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.66%. TE Connectivity's payout ratio is 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.