Voya Investment Management LLC Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Voya Investment Management LLC reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,196 shares of the electronics maker's stock after selling 2,266 shares during the quarter. Voya Investment Management LLC's holdings in TE Connectivity were worth $7,034,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Modera Wealth Management LLC raised its stake 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 valued at $409,000 after acquiring an additional 78 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock worth $2,002,000 after purchasing an additional 83 shares during the period. Ascent Wealth Partners LLC lifted its holdings in TE Connectivity by 1.0% during the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock worth $1,231,000 after buying an additional 85 shares during the period. Moors & Cabot Inc. boosted its position in TE Connectivity by 6.0% during the fourth 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 raised its holdings in TE Connectivity by 5.4% in the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker's stock worth $296,000 after purchasing an additional 106 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TEL shares. The Goldman Sachs Group decreased 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 report on Thursday, April 10th. 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 report on Thursday, April 24th. Bank of America boosted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Finally, UBS Group reiterated a "buy" rating and issued a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $159.50.

TE Connectivity Trading Up 2.5 %

TE Connectivity stock traded up $3.66 during midday trading on Friday, reaching $150.02. 1,370,342 shares of the stock traded hands, compared to its average volume of 1,682,679. 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 firm has a market cap of $44.49 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company has a 50-day simple moving average of $140.68 and a two-hundred day simple moving average of $146.06. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month 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 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 company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter last year, the company posted $1.86 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. 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. This represents a $2.84 dividend on an annualized basis and a yield of 1.89%. TE Connectivity's dividend payout ratio (DPR) is currently 62.42%.

Insiders Place Their Bets

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

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.