The Manufacturers Life Insurance Company Has $48.46 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

The Manufacturers Life Insurance Company lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,963 shares of the electronics maker's stock after buying an additional 2,867 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of TE Connectivity worth $48,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP acquired a new position in shares of TE Connectivity in the 4th quarter valued at $909,598,000. Vanguard Group Inc. lifted its stake in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the period. Norges Bank bought a new position in TE Connectivity during the fourth quarter worth about $508,199,000. Clearbridge Investments LLC grew its position in shares of TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after buying an additional 1,702,825 shares during the period. Finally, Amundi bought a new position in TE Connectivity during the 4th quarter worth approximately $159,992,000. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction 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 sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

TE Connectivity Stock Down 0.5 %

Shares of TE Connectivity stock traded down $0.80 on Tuesday, reaching $149.05. 211,498 shares of the company were exchanged, compared to its average volume of 1,678,254. The company has a market capitalization of $44.20 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.11 and a beta of 1.23. 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 Ltd. has a one year low of $116.30 and a one year high of $159.98. The company has a 50-day moving average of $140.63 and a 200 day moving average of $146.06.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the business posted $1.86 EPS. TE Connectivity's revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. TE Connectivity's payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TEL shares. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Robert W. Baird raised their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Bank of America boosted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.