Vinva Investment Management Ltd trimmed its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 33.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,398 shares of the electronics maker's stock after selling 3,282 shares during the quarter. Vinva Investment Management Ltd's holdings in TE Connectivity were worth $914,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in TEL. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its position in shares of TE Connectivity by 117.6% in the fourth 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 purchased a new position in shares of TE Connectivity during the fourth quarter valued at $43,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity during the fourth quarter valued at $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the 4th quarter worth about $55,000. 91.43% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at TE Connectivity
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 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 of the company's stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
TEL has been the topic of a number of research reports. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Citigroup upped their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Bank of America lifted their target price 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. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Finally, StockNews.com cut 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $167.00.
Read Our Latest Analysis on TEL
TE Connectivity Stock Up 1.1 %
Shares of TEL traded up $1.58 during trading hours on Tuesday, hitting $150.56. 2,867,734 shares of the company were exchanged, compared to its average volume of 1,579,313. 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 company has a market cap of $44.92 billion, a PE ratio of 24.05, a PEG ratio of 2.11 and a beta of 1.32. The firm's 50 day moving average is $149.07 and its 200-day moving average is $148.35. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.
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 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 firm 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 earned $1.84 earnings per share. The company's revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's dividend payout ratio (DPR) is currently 45.37%.
TE Connectivity Profile
(
Free Report)
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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