1832 Asset Management L.P. Sells 4,100 Shares of TE Connectivity Ltd. (NYSE:TEL)

1832 Asset Management L.P. lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 577,740 shares of the electronics maker’s stock after selling 4,100 shares during the period. 1832 Asset Management L.P.’s holdings in TE Connectivity were worth $81,172,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of TE Connectivity in the fourth quarter valued at approximately $693,985,000. Qube Research & Technologies Ltd acquired a new position in shares of TE Connectivity in the third quarter valued at approximately $165,640,000. First Trust Advisors LP grew its position in shares of TE Connectivity by 150.9% in the fourth quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock valued at $301,151,000 after purchasing an additional 1,289,230 shares during the last quarter. Morgan Stanley grew its position in shares of TE Connectivity by 11.7% in the third quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of TE Connectivity by 61.5% in the third quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock valued at $118,229,000 after purchasing an additional 364,377 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE TEL traded up $1.78 on Wednesday, hitting $149.97. 1,205,414 shares of the company’s stock were exchanged, compared to its average volume of 2,016,491. The stock has a 50-day moving average of $145.67 and a 200-day moving average of $141.03. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $152.79. The stock has a market cap of $45.93 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 2.20 and a beta of 1.35.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 23.79%.

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TEL. Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Finally, StockNews.com began coverage on TE Connectivity in a research note on Saturday. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

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.