TE Connectivity Ltd. $TEL Shares Sold by Whittier Trust Co.

Key Points

• Whittier Trust Co. reduced its stake in TE Connectivity Ltd. by 11.8% during the second quarter, now holding 8,475 shares worth approximately $1.43 million.
• TE Connectivity recently reported $2.27 earnings per share for the quarter, exceeding analysts' estimates and showing a 13.9% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.71 per share, with an ex-dividend date on November 21st, resulting in an annualized dividend yield of 1.2%.

Whittier Trust Co. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,475 shares of the electronics maker's stock after selling 1,132 shares during the quarter. Whittier Trust Co.'s holdings in TE Connectivity were worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in TE Connectivity during the 2nd quarter valued at approximately $26,000. Salomon & Ludwin LLC boosted its position in TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker's stock worth $31,000 after acquiring an additional 66 shares during the period. Richardson Financial Services Inc. acquired a new position in TE Connectivity during the 2nd quarter worth $33,000. Costello Asset Management INC acquired a new position in TE Connectivity during the 1st quarter worth $28,000. Finally, Millstone Evans Group LLC acquired a new position in TE Connectivity during the 1st quarter worth $32,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on TEL shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of TE Connectivity in a research report on Wednesday, October 8th. Barclays started coverage on TE Connectivity in a research report on Tuesday, October 7th. They set an "overweight" rating and a $249.00 price target for the company. JPMorgan Chase & Co. boosted their price target on TE Connectivity from $186.00 to $204.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price target on TE Connectivity from $198.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 25th. Finally, KGI Securities upgraded TE Connectivity to a "hold" rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.00.

TE Connectivity Trading Up 0.3%

Shares of TE Connectivity stock opened at $228.99 on Thursday. The business has a fifty day simple moving average of $213.92 and a 200-day simple moving average of $181.74. The firm has a market cap of $67.66 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.26. 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 Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $237.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.TE Connectivity's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.91 earnings per share. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.2%. TE Connectivity's payout ratio is 58.80%.

Insider Transactions at TE Connectivity

In other news, EVP John S. Jenkins sold 45,850 shares of the business's stock in a transaction 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 directly owned 24,625 shares of the company's stock, valued at $5,154,751.25. The trade was a 65.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Malavika Sagar sold 1,945 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the sale, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,645 shares of company stock valued at $14,842,096 over the last three months. Company insiders own 0.90% of the company's stock.

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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