Swiss National Bank Sells 48,100 Shares of TE Connectivity Ltd. (NYSE:TEL)

Swiss National Bank trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 858,600 shares of the electronics maker's stock after selling 48,100 shares during the period. Swiss National Bank owned approximately 0.29% of TE Connectivity worth $122,754,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

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TE Connectivity Stock Performance

Shares of TEL stock traded up $0.06 during mid-day trading on Tuesday, reaching $146.80. 1,092,126 shares of the company's stock traded hands, compared to its average volume of 1,578,840. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market capitalization of $43.80 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The firm has a 50 day moving average price of $148.60 and a two-hundred day moving average price of $148.45.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a positive change 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 1.93%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is presently 45.37%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TEL shares. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of "Hold" and a consensus target price of $167.00.

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.