TE Connectivity Ltd. (NYSE:TEL) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 73.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,871 shares of the electronics maker's stock after selling 36,535 shares during the period. OMERS ADMINISTRATION Corp's holdings in TE Connectivity were worth $1,840,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TEL. 180 Wealth Advisors LLC purchased a new position in shares of TE Connectivity in the fourth quarter valued at $211,000. Fifth Third Wealth Advisors LLC grew its stake in shares of TE Connectivity by 8.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,767 shares of the electronics maker's stock worth $682,000 after buying an additional 378 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of TE Connectivity by 0.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,368 shares of the electronics maker's stock worth $3,484,000 after buying an additional 157 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $1,023,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in TE Connectivity by 35.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 792 shares of the electronics maker's stock valued at $113,000 after buying an additional 209 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Citigroup dropped their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research note on Friday, April 25th. UBS Group reissued a "buy" rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Finally, Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.30.

Insider Transactions at TE Connectivity

In related news, CFO Heath A. Mitts sold 37,844 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the transaction, the chief financial officer now owns 45,503 shares in the company, valued at $6,976,974.99. This trade represents a 45.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,062,559 in the last 90 days. Insiders own 0.90% of the company's stock.

TE Connectivity Stock Down 0.4%

NYSE:TEL traded down $0.63 during trading hours on Wednesday, reaching $161.55. The company's stock had a trading volume of 400,625 shares, compared to its average volume of 1,695,053. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $47.91 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. The stock has a 50 day moving average price of $142.84 and a two-hundred day moving average price of $146.80. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the company posted $1.86 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

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.