TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 981,900 shares of the electronics maker’s stock after selling 32,400 shares during the period. Swiss National Bank’s holdings in TE Connectivity were worth $137,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heritage Wealth Management LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $1,584,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at $485,000. First Trust Direct Indexing L.P. grew its holdings in shares of TE Connectivity by 18.5% during the fourth quarter. First Trust Direct Indexing L.P. now owns 11,806 shares of the electronics maker’s stock valued at $1,659,000 after buying an additional 1,844 shares in the last quarter. Victory Capital Management Inc. raised its position in TE Connectivity by 132.8% during the fourth quarter. Victory Capital Management Inc. now owns 154,449 shares of the electronics maker’s stock valued at $21,700,000 after buying an additional 88,100 shares during the period. Finally, Arnhold LLC purchased a new stake in TE Connectivity in the 4th quarter worth about $211,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Robert W. Baird dropped their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus upped their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Citigroup began coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com began coverage on shares of TE Connectivity in a research note on Tuesday. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.50.

TE Connectivity Price Performance

NYSE:TEL opened at $142.00 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The stock has a market cap of $43.48 billion, a P/E ratio of 12.99, a PEG ratio of 2.06 and a beta of 1.36. The company has a fifty day moving average price of $142.48 and a 200 day moving average price of $136.65. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $147.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business 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 firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.65 earnings per share. Analysts anticipate that TE Connectivity Ltd. will post 7.51 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.83%. TE Connectivity’s payout ratio is 21.59%.

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.