Algert Global LLC Cuts Stake in TE Connectivity Ltd. (NYSE:TEL)

Algert Global LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,467 shares of the electronics maker’s stock after selling 390 shares during the period. Algert Global LLC’s holdings in TE Connectivity were worth $496,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. boosted its position in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $43,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $44,000. Finally, Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $57,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.5%

NYSE TEL opened at $152.85 on Monday. The stock’s 50-day moving average price is $140.60 and its 200-day moving average price is $146.18. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98. The company has a market capitalization of $45.33 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the company earned $1.86 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

Insider Activity at TE Connectivity

In related news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the sale, the executive vice president now owns 24,625 shares of the company’s stock, valued at approximately $3,678,728.75. This trade represents a 54.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Vertical Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Friday, April 25th. The Goldman Sachs Group dropped their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Citigroup lowered their target price on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company increased their target price on TE Connectivity from $130.00 to $148.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.50.

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.