Victory Capital Management Inc. Sells 26,411 Shares of TE Connectivity Ltd. (NYSE:TEL)

Victory Capital Management Inc. lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,492 shares of the electronics maker's stock after selling 26,411 shares during the quarter. Victory Capital Management Inc.'s holdings in TE Connectivity were worth $18,300,000 at the end of the most recent quarter.

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

TE Connectivity Price Performance

Shares of TE Connectivity stock traded up $2.06 during midday trading on Friday, hitting $207.66. 2,069,221 shares of the company traded hands, compared to its average volume of 1,993,890. The stock has a market cap of $61.58 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.08 and a current ratio of 1.52. The firm's fifty day moving average price is $169.73 and its 200-day moving average price is $153.84. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $208.17.

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, beating the consensus estimate 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 net margin of 8.78% and a return on equity of 20.22%. The firm's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.91 EPS. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity's payout ratio is 58.80%.

Insider Activity

In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction of $8,486,848.26. Following the sale, the chief financial officer directly owned 45,503 shares of the company's stock, valued at $7,244,532.63. The trade was a 53.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Aaron Kyle Stucki sold 52,900 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $192.78, for a total transaction of $10,198,062.00. Following the sale, the insider directly owned 23,667 shares in the company, valued at $4,562,524.26. The trade was a 69.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,675 shares of company stock worth $39,794,121. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research report on Friday, July 11th. Robert W. Baird lifted their target price on shares of TE Connectivity from $185.00 to $210.00 and gave the stock an "outperform" rating in a report on Thursday. KGI Securities raised shares of TE Connectivity to a "hold" rating in a report on Thursday. Bank of America lifted their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their target price on shares of TE Connectivity from $170.00 to $198.00 and gave the stock an "equal weight" rating in a report on Thursday. 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 data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.80.

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.