Transcend Capital Advisors LLC Cuts Stake in TE Connectivity Ltd. $TEL

Transcend Capital Advisors LLC lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,877 shares of the electronics maker’s stock after selling 1,514 shares during the quarter. Transcend Capital Advisors LLC’s holdings in TE Connectivity were worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Martingale Asset Management L P boosted its stake in TE Connectivity by 3.6% in the first quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker’s stock worth $255,000 after buying an additional 63 shares in the last quarter. Nelson Capital Management LLC boosted its stake in TE Connectivity by 0.4% in the second quarter. Nelson Capital Management LLC now owns 15,464 shares of the electronics maker’s stock worth $2,608,000 after buying an additional 63 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in TE Connectivity by 58.9% in the second quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock worth $31,000 after buying an additional 66 shares in the last quarter. Ballentine Partners LLC boosted its stake 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 purchasing an additional 68 shares during the period. Finally, Hickory Point Bank & Trust boosted its stake 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 purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $235.66 on Monday. The stock has a fifty day moving average of $215.12 and a 200 day moving average of $184.06. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $237.63. The firm has a market capitalization of $69.63 billion, a price-to-earnings ratio of 48.79, a PEG ratio of 2.54 and a beta of 1.26. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEL. UBS Group increased their price objective on TE Connectivity from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Barclays began coverage on TE Connectivity in a research note on Tuesday, October 7th. They set an “overweight” rating and a $249.00 price objective for the company. Bank of America increased their price objective on TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Wall Street Zen lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 31st. Finally, Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.00.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total value of $4,841,311.50. Following the completion of the transaction, the insider owned 25,976 shares in the company, valued at approximately $5,272,868.24. This represents a 47.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity 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.