TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,827 shares of the electronics maker's stock after selling 1,680 shares during the quarter. Rafferty Asset Management LLC's holdings in TE Connectivity were worth $14,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after buying an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $44,000. Finally, Deseret Mutual Benefit Administrators purchased a new stake in TE Connectivity in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Insider Activity

In other news, SVP Malavika Sagar sold 3,125 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the transaction, the senior vice president now owns 5,927 shares of the company's stock, valued at approximately $948,320. This trade represents a 34.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the company's 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 sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock worth $27,062,559 in the last quarter. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEL. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research note on Friday, April 25th. Finally, StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.30.

TE Connectivity Stock Performance

Shares of TEL stock traded down $0.18 during trading hours on Tuesday, hitting $162.69. The company's stock had a trading volume of 1,504,818 shares, compared to its average volume of 1,700,090. The stock has a market cap of $48.25 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11. The company has a 50 day moving average of $142.41 and a 200 day moving average of $146.69. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS 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. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.75%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is currently 62.42%.

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.