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

Key Points

• Invesco Ltd. has reduced its stake in TE Connectivity Ltd. by 0.6%, now holding 2,693,683 shares worth approximately $380.67 million.
• TE Connectivity reported a 13.9% year-over-year increase in revenue, reaching $4.53 billion for the latest quarter, with earnings per share at $2.27, exceeding estimates.
• A quarterly dividend of $0.71 per share has been declared, representing an annual yield of 1.4%, with a dividend payout ratio of 58.80%.

Invesco Ltd. lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,693,683 shares of the electronics maker's stock after selling 17,035 shares during the quarter. Invesco Ltd. owned approximately 0.91% of TE Connectivity worth $380,671,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of TE Connectivity during the 1st quarter worth $28,000. Millstone Evans Group LLC acquired a new position in TE Connectivity in the first quarter valued at $32,000. North Capital Inc. acquired a new position in TE Connectivity in the first quarter valued at $46,000. Global X Japan Co. Ltd. acquired a new position in TE Connectivity in the first quarter valued at $47,000. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in TE Connectivity by 650.8% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock valued at $69,000 after acquiring an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insiders Place Their Bets

In other TE Connectivity news, EVP John S. Jenkins sold 45,850 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the sale, the executive vice president owned 24,625 shares in the company, valued at $5,154,751.25. This represents a 65.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the sale, the senior vice president owned 4,716 shares in the company, valued at $977,155.20. The trade was a 29.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,795 shares of company stock worth $26,401,597. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TEL shares. Evercore ISI lifted their target price on TE Connectivity from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday. KGI Securities upgraded TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Hsbc Global Res upgraded TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. UBS Group lifted their target price on TE Connectivity from $185.00 to $201.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their target price on TE Connectivity from $186.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $197.55.

TE Connectivity Stock Up 1.0%

Shares of TEL traded up $2.06 during midday trading on Wednesday, reaching $206.20. 1,391,664 shares of the company were exchanged, compared to its average volume of 2,259,942. 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 Ltd. has a 1-year low of $116.30 and a 1-year high of $212.76. The stock has a 50-day moving average price of $180.97 and a 200-day moving average price of $158.89. The company has a market cap of $60.93 billion, a price-to-earnings ratio of 42.69, a P/E/G ratio of 2.44 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping 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 business had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The company's revenue was up 13.9% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 annualized dividend and a dividend yield of 1.4%. TE Connectivity's payout ratio is 58.80%.

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.