Bank of New York Mellon Corp Trims Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

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

A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $820,000. SRS Capital Advisors Inc. boosted its holdings in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after buying an additional 107 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of TE Connectivity by 23.5% in the 4th quarter. Jones Financial Companies Lllp now owns 3,305 shares of the electronics maker's stock valued at $473,000 after buying an additional 628 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of TE Connectivity by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock valued at $949,000 after buying an additional 841 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in shares of TE Connectivity by 4.1% in the 4th quarter. Keybank National Association OH now owns 7,181 shares of the electronics maker's stock valued at $1,027,000 after buying an additional 286 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity 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 transaction, the insider owned 25,976 shares in the company, valued at $4,130,963.28. The trade was a 49.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 13,100 shares of TE Connectivity 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 owned 23,657 shares in the company, valued at approximately $4,021,690. This represents a 35.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,775 shares of company stock worth $29,596,059 over the last 90 days. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Stock Performance

Shares of NYSE TEL traded up $0.20 during midday trading on Wednesday, reaching $172.63. 1,292,910 shares of the stock were exchanged, compared to its average volume of 1,710,366. The firm has a 50-day simple moving average of $162.19 and a two-hundred day simple moving average of $150.25. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $182.39. The firm has a market cap of $51.19 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 2.24 and a beta of 1.23. 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 (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. The firm had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter last year, the company earned $1.86 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid 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 yield of 1.65%. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen lowered shares of TE Connectivity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $163.90.

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.