Anchor Capital Advisors LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 376,523 shares of the electronics maker's stock after selling 20,556 shares during the period. TE Connectivity accounts for 1.4% of Anchor Capital Advisors LLC's portfolio, making the stock its 24th largest holding. Anchor Capital Advisors LLC owned 0.12% of TE Connectivity worth $52,901,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of TEL. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity in the fourth quarter worth about $30,000. Jones Financial Companies Lllp lifted its stake in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock worth $30,000 after acquiring an additional 190 shares during the last quarter. Arlington Trust Co LLC bought a new position in TE Connectivity in the 3rd quarter valued at $35,000. Wetzel Investment Advisors Inc. purchased a new stake in TE Connectivity in the fourth quarter worth $45,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of TE Connectivity by 176.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker's stock worth $46,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
Insider Buying and Selling
In other news, Director Mark Trudeau sold 7,044 shares of the company's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares of the company's stock, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company's stock.
TE Connectivity Stock Up 1.8 %
Shares of TEL traded up $2.59 during midday trading on Monday, hitting $142.80. 1,695,099 shares of the company's stock traded hands, compared to its average volume of 2,213,339. TE Connectivity Ltd. has a 1 year low of $115.00 and a 1 year high of $147.98. The firm's fifty day moving average is $142.56 and its 200-day moving average is $136.46. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $44.38 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. TE Connectivity's revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.55 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, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity's payout ratio is 21.59%.
Wall Street Analyst Weigh In
TEL has been the subject of several research reports. Robert W. Baird lowered their target price on TE Connectivity from $159.00 to $158.00 and set an "outperform" rating for the company in a report on Thursday. Stifel Nicolaus increased their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. JPMorgan Chase & Co. reduced their price target on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating for the company in a report on Thursday. The Goldman Sachs Group reiterated a "buy" rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, Jefferies Financial Group started coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a "buy" rating and a $180.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.50.
Read Our Latest Research Report on TEL
About TE Connectivity
(
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.
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