Massachusetts Financial Services Co. MA Cuts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Massachusetts Financial Services Co. MA reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,725,423 shares of the electronics maker's stock after selling 24,225 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.58% of TE Connectivity worth $675,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TEL. Modera Wealth Management LLC raised its holdings in shares of TE Connectivity by 2.8% during the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker's stock worth $409,000 after buying an additional 78 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of TE Connectivity by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker's stock valued at $2,002,000 after acquiring an additional 83 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker's stock worth $1,231,000 after purchasing an additional 85 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of TE Connectivity by 6.0% during the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker's stock worth $240,000 after purchasing an additional 95 shares during the last quarter. Finally, Callan Capital LLC boosted its position in TE Connectivity by 5.4% during the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker's stock worth $296,000 after buying an additional 106 shares during the period. Institutional investors own 91.43% of the company's stock.

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TE Connectivity Trading Up 0.5 %

Shares of TEL traded up $0.55 during mid-day trading on Monday, reaching $122.55. The company's stock had a trading volume of 1,182,136 shares, compared to its average volume of 1,688,915. The company's fifty day moving average price is $147.64 and its two-hundred day moving average price is $148.07. 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 52 week low of $114.83 and a 52 week high of $159.98. The stock has a market cap of $36.56 billion, a PE ratio of 19.48, a P/E/G ratio of 2.11 and a beta of 1.25.

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, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business's revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 EPS. On average, analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.32%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is currently 45.37%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a report on Thursday, January 23rd. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target 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. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Seven 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.com, TE Connectivity currently has an average rating of "Hold" and an average price target of $167.00.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

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.