First Pacific Advisors LP Has $448.11 Million Position in TE Connectivity Ltd. $TEL

First Pacific Advisors LP trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,656,748 shares of the electronics maker’s stock after selling 26,464 shares during the quarter. TE Connectivity comprises approximately 6.4% of First Pacific Advisors LP’s portfolio, making the stock its 3rd largest holding. First Pacific Advisors LP’s holdings in TE Connectivity were worth $448,114,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 25,976 shares in the company, valued at approximately $5,272,868.24. This represents a 47.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $237.06 on Wednesday. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $239.75. The stock’s 50 day moving average price is $216.47 and its 200-day moving average price is $185.55. The company has a market capitalization of $70.05 billion, a PE ratio of 49.08, a PEG ratio of 2.55 and a beta of 1.26. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEL. Bank of America boosted their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. UBS Group boosted their price objective on TE Connectivity from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Evercore ISI boosted their price objective on TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their price objective on TE Connectivity from $186.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $222.00.

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.