GAM Holding AG Sells 7,044 Shares of TE Connectivity Ltd. (NYSE:TEL)

GAM Holding AG cut its position in TE Connectivity Ltd. (NYSE:TEL) by 11.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 53,675 shares of the electronics maker’s stock after selling 7,044 shares during the period. GAM Holding AG’s holdings in TE Connectivity were worth $7,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. grew its position in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter worth about $43,000. Global X Japan Co. Ltd. bought a new position in TE Connectivity during the first quarter worth about $47,000. Deseret Mutual Benefit Administrators bought a new position in TE Connectivity during the fourth quarter worth about $57,000. Finally, Loomis Sayles & Co. L P boosted its stake in shares of TE Connectivity by 32.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock worth $71,000 after acquiring an additional 123 shares during the period. 91.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Heath A. Mitts sold 37,844 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the completion of the transaction, the chief financial officer now owns 45,503 shares of the company’s stock, valued at approximately $6,976,974.99. This represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $159.03, for a total transaction of $3,975,750.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $4,130,963.28. The trade was a 49.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock worth $27,369,059 over the last three months. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on TEL shares. Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Wall Street Zen cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Citigroup reduced their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Friday, April 25th. Five investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.50.

TE Connectivity Stock Performance

NYSE TEL opened at $163.19 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $48.40 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.14 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $167.94. The firm has a 50-day moving average price of $153.80 and a two-hundred day moving average price of $148.52.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. Analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s 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.