Guggenheim Capital LLC Sells 24,724 Shares of TE Connectivity Ltd. (NYSE:TEL)

Guggenheim Capital LLC trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 76.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,567 shares of the electronics maker's stock after selling 24,724 shares during the quarter. Guggenheim Capital LLC's holdings in TE Connectivity were worth $1,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its position in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock worth $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity in the 4th quarter worth about $43,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity during the 4th quarter valued at about $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Up 3.9 %

NYSE:TEL opened at $133.76 on Wednesday. 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 Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The company has a market cap of $39.91 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The company has a 50 day simple moving average of $142.18 and a two-hundred day simple moving average of $146.17.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $1.84 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.12%. TE Connectivity's payout ratio is 45.37%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business'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 transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

TEL has been the topic of a number of analyst reports. Citigroup dropped their price target on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on TE Connectivity from $169.00 to $146.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company lifted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $156.90.

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.

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