TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC reduced its stake in TE Connectivity Ltd. by 33.7%, owning 9,105 shares valued at approximately $1.287 million after selling 4,621 shares.
• Wall Street analysts have a consensus rating of "Moderate Buy" for TE Connectivity, with a target price averaging $194.80 following several recent upgrades.
• The company has declared a quarterly dividend of $0.71 per share, which results in an annualized dividend of $2.84 and a dividend yield of 1.37%.

Private Advisor Group LLC cut its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 33.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,105 shares of the electronics maker's stock after selling 4,621 shares during the quarter. Private Advisor Group LLC's holdings in TE Connectivity were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TEL. North Capital Inc. purchased a new stake in shares of TE Connectivity during the first quarter worth about $46,000. Global X Japan Co. Ltd. acquired a new stake in TE Connectivity during the 1st quarter valued at approximately $47,000. Bartlett & CO. Wealth Management LLC increased its holdings in TE Connectivity by 650.8% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 488 shares of the electronics maker's stock worth $69,000 after purchasing an additional 423 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of TE Connectivity by 32.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker's stock valued at $71,000 after purchasing an additional 123 shares in the last quarter. Finally, Ancora Advisors LLC boosted its stake in shares of TE Connectivity by 150.0% during the 4th quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker's stock valued at $71,000 after buying an additional 300 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TEL. KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report 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. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research note on Friday, July 11th. Finally, Bank of America boosted their price objective on TE Connectivity from $168.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $194.80.

TE Connectivity Stock Performance

TEL stock traded down $2.67 during midday trading on Wednesday, reaching $206.50. The company had a trading volume of 2,642,280 shares, compared to its average volume of 1,971,948. The firm has a market capitalization of $61.02 billion, a PE ratio of 42.75, a P/E/G ratio of 2.52 and a beta of 1.23. The stock has a 50 day moving average price of $172.52 and a 200 day moving average price of $155.12. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $212.76. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion for 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 business's revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $1.91 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $0.71 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a yield of 1.38%. TE Connectivity's dividend payout ratio is presently 58.80%.

Insider Activity

In other news, SVP Malavika Sagar sold 3,125 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $500,000.00. Following the transaction, the senior vice president directly owned 5,927 shares of the company's stock, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $3,975,750.00. Following the sale, the insider owned 25,976 shares in the company, valued at approximately $4,130,963.28. This represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,470 shares of company stock worth $49,794,905 over the last three months. Insiders own 0.90% of the company's stock.

TE Connectivity Company 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.