Bridgewater Associates LP Sells 3,910 Shares of TE Connectivity Ltd. (NYSE:TEL)

Bridgewater Associates LP trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,694 shares of the electronics maker's stock after selling 3,910 shares during the quarter. Bridgewater Associates LP's holdings in TE Connectivity were worth $12,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity in the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its holdings in 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 purchasing an additional 107 shares during the period. Fairway Wealth LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth about $44,000. Finally, Hilltop National Bank purchased a new position in TE Connectivity in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on TEL shares. UBS Group dropped their target price on TE Connectivity from $188.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group cut their price objective 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. Wells Fargo & Company boosted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Finally, Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has an average rating of "Hold" and an average target price of $156.90.

TE Connectivity Price Performance

TE Connectivity stock traded up $3.75 during midday trading on Tuesday, hitting $132.50. The company's stock had a trading volume of 568,087 shares, compared to its average volume of 1,702,664. The stock's 50-day moving average price is $142.57 and its 200-day moving average price is $146.25. The company has a market capitalization of $39.53 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. 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 released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a boost 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 2.14%. TE Connectivity's payout ratio is presently 45.37%.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

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.