TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its holdings in TE Connectivity Ltd. by 6.0%, selling 24,203 shares during the first quarter, leaving them with 381,872 shares valued at approximately $54 million.
• TE Connectivity’s latest earnings report showed earnings per share of $2.27, exceeding the consensus estimate by $0.19, with a revenue increase of 13.9% year-over-year.
• The company announced a quarterly dividend of $0.71 per share, representing a 1.4% yield, with the ex-dividend date set for August 22nd.

Commerce Bank cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 381,872 shares of the electronics maker's stock after selling 24,203 shares during the period. Commerce Bank owned 0.13% of TE Connectivity worth $53,966,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TEL. Geode Capital Management LLC lifted its stake in shares of TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after purchasing an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker's stock valued at $801,101,000 after buying an additional 592,072 shares during the period. EdgePoint Investment Group Inc. lifted its position in TE Connectivity by 15.3% in the fourth quarter. EdgePoint Investment Group Inc. now owns 3,884,050 shares of the electronics maker's stock valued at $555,303,000 after buying an additional 516,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TE Connectivity by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,224,564 shares of the electronics maker's stock worth $461,013,000 after buying an additional 30,793 shares during the period. Finally, Northern Trust Corp increased its position in shares of TE Connectivity by 29.3% during the fourth quarter. Northern Trust Corp now owns 2,691,050 shares of the electronics maker's stock valued at $384,739,000 after acquiring an additional 610,571 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $205.23 on Friday. The business's 50-day moving average price is $173.44 and its 200 day moving average price is $155.56. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The firm has a market cap of $60.64 billion, a P/E ratio of 42.49, a P/E/G ratio of 2.47 and a beta of 1.23. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $212.76.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the business posted $1.91 EPS. The company's revenue was up 13.9% on a year-over-year basis. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.71 per share. 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 is presently 58.80%.

Analyst Ratings Changes

TEL has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research note on Friday, April 25th. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Bank of America raised their price target on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.80.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Monday, June 2nd. The shares were 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. The trade was a 49.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the transaction, the chief financial officer directly owned 45,503 shares of the company's stock, valued at $7,244,532.63. This represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,470 shares of company stock worth $45,313,205. 0.90% of the stock is currently owned by insiders.

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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