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TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Mizuho Securities USA LLC

TE Connectivity logo with Computer and Technology background

Key Points

  • Mizuho Securities USA LLC reduced its stake in TE Connectivity Ltd. by 15.7%, bringing its holdings down to 23,889 shares valued at approximately $3.38 million.
  • Several analysts have recently upgraded their ratings and price targets for TE Connectivity, with Citigroup raising its target from $200 to $230 and maintaining a "buy" rating.
  • TE Connectivity has announced a quarterly dividend of $0.71 per share, representing an annualized dividend yield of 1.4%, with the ex-dividend date set for August 22nd.
  • Want stock alerts on TE Connectivity? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mizuho Securities USA LLC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 15.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,889 shares of the electronics maker's stock after selling 4,465 shares during the quarter. Mizuho Securities USA LLC's holdings in TE Connectivity were worth $3,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ballentine Partners LLC grew its position in shares of TE Connectivity by 1.4% during the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker's stock worth $703,000 after buying an additional 68 shares in the last quarter. Vista Investment Management grew its position in shares of TE Connectivity by 0.5% during the fourth quarter. Vista Investment Management now owns 13,225 shares of the electronics maker's stock worth $1,891,000 after buying an additional 70 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of TE Connectivity by 2.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker's stock worth $534,000 after buying an additional 75 shares in the last quarter. Wedmont Private Capital grew its position in shares of 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 position in shares of TE Connectivity by 7.0% during the first quarter. AllSquare Wealth Management LLC now owns 1,274 shares of the electronics maker's stock worth $180,000 after buying an additional 83 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on TE Connectivity from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Bank of America boosted their target price on TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Robert W. Baird boosted their target price on TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $194.80.

View Our Latest Analysis on TEL

TE Connectivity Price Performance

TEL stock opened at $202.20 on Monday. The company has a market capitalization of $59.75 billion, a P/E ratio of 41.86, a PEG ratio of 2.42 and a beta of 1.23. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $212.76. The business has a 50 day simple moving average of $178.45 and a 200-day simple moving average of $157.93. 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 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%. The company's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 earnings per share. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current 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 paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 22nd. TE Connectivity's dividend payout ratio is 58.80%.

Insider Buying and Selling

In other news, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the sale, the senior vice president owned 4,716 shares in the company, valued at $977,155.20. This represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $9,597,780.50. Following the sale, the executive vice president owned 24,625 shares of the company's stock, valued at $5,154,751.25. This trade represents a 65.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,195 shares of company stock worth $29,723,737 over the last three months. 0.90% of the stock is owned by company insiders.

TE Connectivity Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL - Free Report).

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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