Bremer Bank National Association Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Bremer Bank National Association reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 11.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,706 shares of the electronics maker’s stock after selling 211 shares during the quarter. Bremer Bank National Association’s holdings in TE Connectivity were worth $241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its position in shares of TE Connectivity by 3,455.6% during the 1st quarter. Whipplewood Advisors LLC now owns 3,200 shares of the electronics maker’s stock valued at $452,000 after buying an additional 3,110 shares during the last quarter. ST Germain D J Co. Inc. lifted its position in shares of TE Connectivity by 45.8% during the first quarter. ST Germain D J Co. Inc. now owns 1,057 shares of the electronics maker’s stock worth $149,000 after acquiring an additional 332 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of TE Connectivity by 175.2% in the first quarter. Merit Financial Group LLC now owns 4,562 shares of the electronics maker’s stock worth $645,000 after buying an additional 2,904 shares in the last quarter. Vantage Wealth purchased a new stake in shares of TE Connectivity in the first quarter worth about $13,625,000. Finally, Baker Tilly Wealth Management LLC purchased a new stake in shares of TE Connectivity in the first quarter worth about $349,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.1%

Shares of NYSE:TEL opened at $159.88 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The stock’s 50-day moving average is $144.99 and its 200 day moving average is $147.18. The company has a market cap of $47.41 billion, a PE ratio of 25.54, a P/E/G ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $164.11.

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

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.78%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is 62.42%.

Analyst Upgrades and Downgrades

TEL has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group lowered their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Citigroup lowered their price target on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. HSBC raised TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and an average target price of $162.50.

Insider Buying and Selling at TE Connectivity

In other news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the transaction, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Heath A. Mitts sold 37,844 shares of TE Connectivity stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $153.33, for a total value of $5,802,620.52. Following the transaction, the chief financial officer now directly owns 45,503 shares in the company, valued at approximately $6,976,974.99. The trade was a 45.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,675 shares of company stock worth $23,393,309. Insiders own 0.90% of the company’s stock.

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.