Central Pacific Bank Trust Division Sells 934 Shares of TE Connectivity Ltd. (NYSE:TEL)

Central Pacific Bank Trust Division decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 19,489 shares of the electronics maker’s stock after selling 934 shares during the quarter. Central Pacific Bank Trust Division’s holdings in TE Connectivity were worth $2,754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its holdings in shares of 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 purchasing an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity in the fourth quarter valued at about $44,000. Deseret Mutual Benefit Administrators bought a new stake in TE Connectivity in the fourth quarter valued at about $57,000. Finally, R Squared Ltd bought a new stake in TE Connectivity in the fourth quarter valued at about $64,000. Institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 25,976 shares in the company, valued at $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 is available at the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $500,000.00. Following the completion of the transaction, the senior vice president now owns 5,927 shares in the company, valued at $948,320. This represents a 34.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,675 shares of company stock worth $27,062,559. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TEL shares. UBS Group reissued a “buy” rating and issued a $163.00 target price (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Citigroup lowered their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company upped their target price on shares of TE Connectivity from $148.00 to $156.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.30.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $161.54 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $47.90 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $164.11. The firm’s 50-day moving average price is $144.59 and its two-hundred day moving average price is $147.15.

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

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 62.42%.

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.