Securian Asset Management Inc. Has $2.60 Million Position in TE Connectivity Ltd. $TEL

Securian Asset Management Inc. lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,416 shares of the electronics maker’s stock after selling 331 shares during the period. Securian Asset Management Inc.’s holdings in TE Connectivity were worth $2,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Martingale Asset Management L P lifted its holdings in shares of TE Connectivity by 3.6% during the first quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker’s stock valued at $255,000 after acquiring an additional 63 shares during the period. Nelson Capital Management LLC lifted its holdings in shares of TE Connectivity by 0.4% during the second quarter. Nelson Capital Management LLC now owns 15,464 shares of the electronics maker’s stock valued at $2,608,000 after acquiring an additional 63 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of TE Connectivity by 58.9% during the second quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 66 shares during the period. Ballentine Partners LLC lifted its holdings in shares of TE Connectivity by 1.4% during the first quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker’s stock valued at $703,000 after acquiring an additional 68 shares during the period. Finally, Hickory Point Bank & Trust lifted its holdings in shares of TE Connectivity by 2.6% during the second quarter. Hickory Point Bank & Trust now owns 2,938 shares of the electronics maker’s stock valued at $496,000 after acquiring an additional 75 shares during the period. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Malavika Sagar sold 1,945 shares of TE Connectivity stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the sale, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John S. Jenkins sold 45,850 shares of TE Connectivity stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the completion of the sale, the executive vice president owned 24,625 shares of the company’s stock, valued at approximately $5,154,751.25. The trade was a 65.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,645 shares of company stock worth $14,842,096 over the last three months. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Price Performance

Shares of TEL stock opened at $228.39 on Wednesday. The stock has a 50-day moving average price of $213.47 and a 200 day moving average price of $181.42. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The firm has a market cap of $67.48 billion, a price-to-earnings ratio of 47.29, a PEG ratio of 2.44 and a beta of 1.26. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $234.50.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.19. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $1.91 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 58.80%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TEL shares. JPMorgan Chase & Co. lifted their price objective on TE Connectivity from $186.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. KGI Securities raised TE Connectivity to a “hold” rating in a report on Thursday, July 24th. Bank of America lifted their price target on TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Citigroup lifted their price target on TE Connectivity from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Evercore ISI lifted their price target on TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.00.

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.