Massachusetts Financial Services Co. MA Sells 24,225 Shares of TE Connectivity Ltd. (NYSE:TEL)

Massachusetts Financial Services Co. MA lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,725,423 shares of the electronics maker’s stock after selling 24,225 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.58% of TE Connectivity worth $675,594,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Sector Pension Investment Board raised its holdings in shares of TE Connectivity by 13.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker’s stock worth $1,974,000 after acquiring an additional 1,600 shares during the last quarter. Atom Investors LP raised its stake in shares of TE Connectivity by 238.1% in the third quarter. Atom Investors LP now owns 4,707 shares of the electronics maker’s stock worth $711,000 after purchasing an additional 3,315 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of TE Connectivity by 2,193.7% in the third quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker’s stock valued at $329,000 after purchasing an additional 2,084 shares in the last quarter. Holocene Advisors LP bought a new stake in TE Connectivity during the third quarter worth $10,038,000. Finally, Hilltop Holdings Inc. raised its position in TE Connectivity by 101.0% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,907 shares of the electronics maker’s stock valued at $590,000 after buying an additional 1,963 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

NYSE TEL opened at $142.23 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market cap of $42.43 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 52 week low of $131.42 and a 52 week high of $159.98. The firm’s 50-day simple moving average is $148.83 and its two-hundred day simple moving average is $148.34.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. TE Connectivity’s dividend payout ratio is 45.37%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEL. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.00.

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.