Quadcap Wealth Management LLC Decreases Position in TE Connectivity Ltd. (NYSE:TEL)

Quadcap Wealth Management LLC decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,413 shares of the electronics maker’s stock after selling 209 shares during the quarter. Quadcap Wealth Management LLC’s holdings in TE Connectivity were worth $488,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Wellington Management Group LLP purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $909,598,000. Geode Capital Management LLC lifted its stake in TE Connectivity by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after buying an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in TE Connectivity by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock valued at $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.8%

NYSE:TEL opened at $163.58 on Friday. The stock has a fifty day moving average price of $141.62 and a two-hundred day moving average price of $146.56. The stock has a market capitalization of $48.51 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $163.61.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.74%. TE Connectivity’s dividend payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

TEL has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Bank of America boosted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Finally, StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $159.50.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Malavika Sagar sold 3,125 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now directly owns 5,927 shares in the company, valued at $948,320. This trade represents a 34.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is owned by corporate insiders.

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.