TE Connectivity Ltd. $TEL Position Trimmed by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,935 shares of the electronics maker’s stock after selling 2,096 shares during the period. Wealthfront Advisers LLC’s holdings in TE Connectivity were worth $5,049,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TEL. Brighton Jones LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $820,000. GAMMA Investing LLC raised its holdings in TE Connectivity by 55.9% during the 1st quarter. GAMMA Investing LLC now owns 4,977 shares of the electronics maker’s stock worth $703,000 after buying an additional 1,784 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in TE Connectivity by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker’s stock valued at $2,479,000 after buying an additional 192 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of TE Connectivity by 10.8% in the first quarter. Spire Wealth Management now owns 933 shares of the electronics maker’s stock worth $132,000 after buying an additional 91 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of TE Connectivity by 4.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 90,612 shares of the electronics maker’s stock worth $12,749,000 after acquiring an additional 3,698 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 firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the transaction, the insider owned 25,976 shares of the company’s stock, valued at approximately $5,272,868.24. This trade represents a 47.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TEL. Barclays initiated coverage on shares of TE Connectivity in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $249.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TE Connectivity in a research report on Wednesday, October 8th. Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. UBS Group increased their price objective on TE Connectivity from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Robert W. Baird upped their target price on TE Connectivity from $222.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $222.00.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $237.06 on Wednesday. The firm has a market cap of $70.05 billion, a price-to-earnings ratio of 49.08, a P/E/G ratio of 2.55 and a beta of 1.26. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $239.75. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $216.47 and a 200 day simple moving average of $185.55.

TE Connectivity Announces Dividend

The company also recently declared 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 of this dividend is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity’s payout ratio is presently 58.80%.

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.