Dodge & Cox Decreases Stake in TE Connectivity Ltd. (NYSE:TEL)

Dodge & Cox reduced its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,965,609 shares of the electronics maker's stock after selling 24,577 shares during the quarter. TE Connectivity comprises approximately 1.3% of Dodge & Cox's investment portfolio, making the stock its 27th largest position. Dodge & Cox owned about 5.35% of TE Connectivity worth $2,282,603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TEL. Wellington Management Group LLP purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $909,598,000. Vanguard Group Inc. boosted 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 period. Norges Bank acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $508,199,000. Clearbridge Investments LLC raised its stake in shares of TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after acquiring an additional 1,702,825 shares during the period. Finally, Amundi acquired a new position in TE Connectivity during the fourth quarter worth $159,992,000. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Price Performance

TEL traded up $2.33 during midday trading on Friday, reaching $129.23. 2,517,669 shares of the company's stock were exchanged, compared to its average volume of 1,714,609. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98. The stock has a market capitalization of $38.56 billion, a PE ratio of 20.64, a P/E/G ratio of 2.11 and a beta of 1.25. The business's 50-day moving average price is $142.92 and its 200 day moving average price is $146.36.

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

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 dividend on an annualized basis and a yield of 2.20%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is 45.37%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TEL shares. 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. Robert W. Baird reduced their target price on shares of TE Connectivity from $150.00 to $147.00 and set an "outperform" rating on the stock in a report on Tuesday. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Finally, UBS Group lowered their price objective on TE Connectivity from $188.00 to $155.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $156.90.

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.