TE Connectivity Ltd. (NYSE:TEL) Shares Sold by PGGM Investments

PGGM Investments reduced its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,183 shares of the electronics maker’s stock after selling 1,285 shares during the quarter. PGGM Investments’ holdings in TE Connectivity were worth $10,563,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TEL. Bruce G. Allen Investments LLC acquired a new position in shares of TE Connectivity during the 4th quarter valued at $30,000. Jones Financial Companies Lllp boosted its stake in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of TE Connectivity during the 3rd quarter worth $35,000. Wetzel Investment Advisors Inc. bought a new stake in shares of TE Connectivity during the 4th quarter worth $45,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

TEL stock traded down $0.27 during trading on Friday, reaching $140.21. 2,653,836 shares of the stock were exchanged, compared to its average volume of 2,201,407. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a market capitalization of $43.58 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.05 and a beta of 1.39. The stock has a 50 day simple moving average of $142.55 and a 200-day simple moving average of $136.26. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.55 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is currently 21.59%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TEL shares. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday. Stifel Nicolaus increased their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. StockNews.com assumed coverage on TE Connectivity in a report on Monday, April 22nd. They set a “buy” rating for the company. Finally, Robert W. Baird cut their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus target price of $153.50.

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.