Aviva PLC Sells 86,744 Shares of TE Connectivity Ltd. (NYSE:TEL)

Aviva PLC lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,969 shares of the electronics maker's stock after selling 86,744 shares during the period. Aviva PLC owned about 0.06% of TE Connectivity worth $26,159,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TEL. Benjamin Edwards Inc. lifted its position in TE Connectivity by 2,193.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker's stock worth $329,000 after buying an additional 2,084 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of TE Connectivity by 28.5% in the 3rd quarter. HighTower Advisors LLC now owns 58,803 shares of the electronics maker's stock worth $8,873,000 after acquiring an additional 13,027 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of TE Connectivity by 25.4% in the 3rd quarter. Quantinno Capital Management LP now owns 22,382 shares of the electronics maker's stock valued at $3,379,000 after purchasing an additional 4,531 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of TE Connectivity by 28.0% during the 3rd quarter. Two Sigma Advisers LP now owns 107,500 shares of the electronics maker's stock valued at $16,231,000 after purchasing an additional 23,500 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in TE Connectivity in the 3rd quarter worth $2,603,000. Institutional investors own 91.43% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently issued reports on TEL shares. Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. UBS Group decreased their price target on shares of TE Connectivity from $188.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of "Hold" and an average price target of $163.60.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's 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 directly owns 25,976 shares in the company, 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 available at this link. Corporate insiders own 0.90% of the company's stock.

TE Connectivity Stock Up 0.6 %

TEL stock traded up $0.80 on Friday, reaching $128.15. 580,189 shares of the company traded hands, compared to its average volume of 1,702,741. The firm has a fifty day simple moving average of $145.12 and a 200-day simple moving average of $147.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market cap of $38.24 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $1.84 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given 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 annualized dividend and a yield of 2.22%. TE Connectivity's dividend payout ratio is 45.37%.

TE Connectivity 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.