TE Connectivity Ltd. (NYSE:TEL) Holdings Decreased by Riverwater Partners LLC

Riverwater Partners LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,462 shares of the electronics maker’s stock after selling 204 shares during the quarter. Riverwater Partners LLC’s holdings in TE Connectivity were worth $348,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Walter & Keenan Wealth Management LLC IN ADV lifted its position in TE Connectivity by 7.5% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,829 shares of the electronics maker’s stock worth $258,000 after buying an additional 127 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of TE Connectivity during the 1st quarter valued at about $47,000. Premier Path Wealth Partners LLC grew its stake in shares of TE Connectivity by 9.9% in the 1st quarter. Premier Path Wealth Partners LLC now owns 2,004 shares of the electronics maker’s stock valued at $283,000 after buying an additional 180 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in TE Connectivity during the first quarter valued at approximately $455,000. Finally, State of Alaska Department of Revenue raised its position in TE Connectivity by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 34,944 shares of the electronics maker’s stock valued at $4,938,000 after acquiring an additional 835 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.0%

NYSE TEL opened at $163.63 on Friday. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $167.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The stock has a market cap of $48.52 billion, a PE ratio of 35.96, a PEG ratio of 2.14 and a beta of 1.23. The firm has a 50-day simple moving average of $153.09 and a 200 day simple moving average of $148.45.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s dividend payout ratio is 62.42%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group boosted their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. HSBC upgraded 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. Robert W. Baird boosted their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.50.

Insider Activity

In related news, SVP Malavika Sagar sold 3,125 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was 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 trade represents a 34.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 30,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the sale, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,675 shares of company stock worth $27,369,059. Corporate insiders own 0.90% of the company’s stock.

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.