Burling Wealth Partners LLC Sells 1,602 Shares of TE Connectivity Ltd. (NYSE:TEL)

Burling Wealth Partners LLC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,267 shares of the electronics maker's stock after selling 1,602 shares during the quarter. Burling Wealth Partners LLC's holdings in TE Connectivity were worth $886,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TEL. Brighton Jones LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $820,000. Avantax Advisory Services Inc. lifted its holdings in shares of TE Connectivity by 12.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,567 shares of the electronics maker's stock valued at $1,511,000 after purchasing an additional 1,183 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of TE Connectivity by 6.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,825 shares of the electronics maker's stock valued at $2,691,000 after purchasing an additional 1,078 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of TE Connectivity by 14.7% in the fourth quarter. Cibc World Markets Corp now owns 47,425 shares of the electronics maker's stock valued at $6,780,000 after purchasing an additional 6,095 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $6,298,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 0.8%

NYSE TEL traded up $1.35 during trading on Friday, hitting $179.03. 4,341,572 shares of the company traded hands, compared to its average volume of 1,720,788. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $179.73. The business has a fifty day simple moving average of $165.93 and a 200 day simple moving average of $151.70. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $53.09 billion, a P/E ratio of 39.35, a PEG ratio of 2.18 and a beta of 1.23.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the company earned $1.86 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.59%. TE Connectivity's payout ratio is presently 62.42%.

Analysts Set New Price Targets

TEL has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. UBS Group increased their price objective on TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Monday. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Bank of America increased their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a report on Friday, July 11th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.10.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $159.03, for a total value of $3,975,750.00. Following the transaction, the insider directly owned 25,976 shares in the company, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the transaction, the executive vice president owned 24,625 shares in the company, valued at $3,678,728.75. The trade was a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 187,775 shares of company stock valued at $29,596,059 in the last ninety days. Company 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.