Cambridge Trust Co. Lowers Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Cambridge Trust Co. trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 54.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 846 shares of the electronics maker’s stock after selling 1,004 shares during the period. Cambridge Trust Co.’s holdings in TE Connectivity were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TEL. Vanguard Group Inc. grew its holdings in TE Connectivity by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after acquiring an additional 308,580 shares during the period. State Street Corp increased its stake in TE Connectivity by 19.5% in the 1st quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after purchasing an additional 2,309,835 shares in the last quarter. Geode Capital Management LLC increased its stake in TE Connectivity by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 5,332,553 shares of the electronics maker’s stock valued at $697,471,000 after purchasing an additional 62,134 shares in the last quarter. Norges Bank acquired a new position in TE Connectivity during the fourth quarter worth $584,131,000. Finally, Invesco Ltd. boosted its position in TE Connectivity by 3.5% during the third quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after purchasing an additional 154,496 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $140.55 on Friday. The business has a fifty day simple moving average of $142.65 and a 200-day simple moving average of $135.52. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a market cap of $43.68 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the business earned $1.53 EPS. The firm’s revenue was down .3% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Stifel Nicolaus lifted their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Citigroup assumed coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective for the company. Finally, Robert W. Baird increased their target price on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $153.30.

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.