Price T Rowe Associates Inc. MD Sells 3,205,578 Shares of TE Connectivity Ltd. (NYSE:TEL)

Price T Rowe Associates Inc. MD decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,717,173 shares of the electronics maker’s stock after selling 3,205,578 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.06% of TE Connectivity worth $2,675,994,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Dark Forest Capital Management LP raised its stake in TE Connectivity by 537.7% during the fourth quarter. Dark Forest Capital Management LP now owns 12,895 shares of the electronics maker’s stock worth $1,844,000 after acquiring an additional 10,873 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of TE Connectivity by 413.2% during the 4th quarter. Hsbc Holdings PLC now owns 257,988 shares of the electronics maker’s stock valued at $36,965,000 after purchasing an additional 207,715 shares during the last quarter. J. Safra Sarasin Holding AG increased its position in TE Connectivity by 128.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker’s stock worth $2,219,000 after purchasing an additional 8,728 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in TE Connectivity by 2.4% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,654 shares of the electronics maker’s stock valued at $1,094,000 after buying an additional 178 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in TE Connectivity by 302.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 20,564 shares of the electronics maker’s stock valued at $2,940,000 after buying an additional 15,459 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $133.76 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $39.91 billion, a PE ratio of 21.37, a P/E/G ratio of 2.11 and a beta of 1.25. The firm has a fifty day simple moving average of $142.18 and a 200 day simple moving average of $146.17. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.12%. TE Connectivity’s payout ratio is 45.37%.

Analyst Ratings Changes

TEL has been the subject of a number of research reports. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. UBS Group dropped their price objective on shares of TE Connectivity from $188.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Citigroup cut their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $156.90.

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.