Price T Rowe Associates Inc. MD Lowers Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Price T Rowe Associates Inc. MD cut its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,717,173 shares of the electronics maker's stock after selling 3,205,578 shares during the period. Price T Rowe Associates Inc. MD owned about 6.27% of TE Connectivity worth $2,675,994,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TEL. Modera Wealth Management LLC increased its position in shares of TE Connectivity by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock worth $409,000 after acquiring an additional 78 shares during the period. King Luther Capital Management Corp increased its stake in shares of TE Connectivity by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock valued at $2,002,000 after buying an additional 83 shares during the period. Ascent Wealth Partners LLC lifted its stake in TE Connectivity by 1.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock worth $1,231,000 after acquiring an additional 85 shares during the period. Moors & Cabot Inc. raised its holdings in shares of TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock valued at $240,000 after purchasing an additional 95 shares in the last quarter. Finally, Callan Capital LLC lifted its position in shares of TE Connectivity by 5.4% in the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker's stock worth $296,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company's stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Trading Down 0.4 %

NYSE TEL traded down $0.56 during trading hours on Monday, reaching $143.81. The company had a trading volume of 395,623 shares, compared to its average volume of 1,888,619. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $42.91 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The stock has a 50-day moving average of $141.45 and a 200 day moving average of $146.06. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TEL shares. UBS Group reiterated a "buy" rating and issued a $163.00 price target (up from $155.00) on shares of TE Connectivity in a report on Thursday. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company raised their price target on TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Vertical Research upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.

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.