Congress Wealth Management LLC DE Sells 17,542 Shares of TE Connectivity Ltd. (NYSE:TEL)

Congress Wealth Management LLC DE decreased its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,291 shares of the electronics maker's stock after selling 17,542 shares during the period. Congress Wealth Management LLC DE's holdings in TE Connectivity were worth $15,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TEL. Vanguard Group Inc. raised its stake in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. State Street Corp lifted its stake in shares of TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the period. Geode Capital Management LLC boosted its position in shares of TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock valued at $899,681,000 after purchasing an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp grew its stake in TE Connectivity by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock worth $536,083,000 after purchasing an additional 488,680 shares during the period. Finally, EdgePoint Investment Group Inc. increased its holdings in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

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Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the 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 completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of several recent analyst reports. Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Finally, HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $167.00.

TE Connectivity Stock Down 1.0 %

Shares of NYSE:TEL traded down $1.46 during mid-day trading on Thursday, hitting $148.28. 526,916 shares of the company traded hands, compared to its average volume of 1,685,785. The stock has a market cap of $44.24 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.11 and a beta of 1.32. The stock has a 50-day moving average price of $149.34 and a two-hundred day moving average price of $148.41. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. 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, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business's revenue was up .1% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.92%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is currently 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.