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

Huntington National Bank lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,583 shares of the electronics maker’s stock after selling 287 shares during the period. Huntington National Bank’s holdings in TE Connectivity were worth $512,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TEL. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. lifted 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 worth $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC purchased a new position in TE Connectivity in the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the fourth quarter valued at 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 25,000 shares of the firm’s 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 sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $121.92 on Friday. 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 business has a 50 day moving average of $147.64 and a two-hundred day moving average of $148.05. The company has a market cap of $36.38 billion, a P/E ratio of 19.48, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 52 week low of $120.99 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the company earned $1.84 earnings per share. As a group, analysts anticipate 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 paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 2.33%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Analysts Set New Price Targets

TEL has been the topic of a number of analyst reports. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Bank of America boosted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.