Lee Danner & Bass Inc. Sells 950 Shares of TE Connectivity Ltd. $TEL

Lee Danner & Bass Inc. lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 33.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,919 shares of the electronics maker’s stock after selling 950 shares during the period. Lee Danner & Bass Inc.’s holdings in TE Connectivity were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 17.0% during the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock valued at $5,353,401,000 after acquiring an additional 5,502,415 shares in the last quarter. Dodge & Cox raised its stake in shares of TE Connectivity by 0.4% during the first quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker’s stock valued at $2,264,297,000 after acquiring an additional 56,871 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of TE Connectivity by 17.2% during the first quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker’s stock valued at $1,054,133,000 after acquiring an additional 1,097,035 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of TE Connectivity by 17.1% during the first quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker’s stock valued at $927,571,000 after acquiring an additional 960,276 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its stake in shares of TE Connectivity by 5.8% during the first quarter. EdgePoint Investment Group Inc. now owns 4,108,472 shares of the electronics maker’s stock valued at $580,609,000 after acquiring an additional 224,422 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In other news, EVP John S. Jenkins sold 45,850 shares of the firm’s 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 transaction, the executive vice president directly owned 24,625 shares in the company, valued at $5,154,751.25. This trade represents a 65.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 23,850 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,272,868.24. The trade was a 47.87% 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 insiders.

TE Connectivity Price Performance

NYSE TEL opened at $235.66 on Friday. The firm’s fifty day simple moving average is $215.12 and its two-hundred day simple moving average is $183.29. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $237.63. The firm has a market capitalization of $69.63 billion, a P/E ratio of 48.79, a P/E/G ratio of 2.52 and a beta of 1.26.

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

TE Connectivity Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on TEL. Bank of America lifted their price target on shares of TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $222.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Citigroup boosted their price objective on shares of TE Connectivity from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. KGI Securities raised shares of TE Connectivity to a “hold” rating in a research note on Thursday, July 24th. Finally, Zacks Research downgraded shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $222.00.

TE Connectivity Company 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.