Founders Financial Alliance LLC Lowers Stake in TE Connectivity Ltd. (NYSE:TEL)

Founders Financial Alliance LLC reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 20.7% during the 4th quarter, HoldingsChannel reports. The fund owned 2,248 shares of the electronics maker’s stock after selling 588 shares during the period. Founders Financial Alliance LLC’s holdings in TE Connectivity were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TEL. Norges Bank purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $693,985,000. Qube Research & Technologies Ltd purchased a new stake in shares of TE Connectivity during the 3rd quarter worth about $165,640,000. Morgan Stanley boosted its stake in shares of TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after acquiring an additional 390,723 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TE Connectivity by 61.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock worth $118,229,000 after acquiring an additional 364,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in TE Connectivity by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock valued at $398,342,000 after buying an additional 343,205 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

TEL stock traded up $0.87 during mid-day trading on Friday, reaching $150.87. The company’s stock had a trading volume of 1,180,062 shares, compared to its average volume of 1,470,000. The stock has a market cap of $46.20 billion, a PE ratio of 13.80, a P/E/G ratio of 2.21 and a beta of 1.36. 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 fifty-two week low of $115.00 and a fifty-two week high of $152.79. The company’s 50 day moving average is $144.53 and its two-hundred day moving average is $139.85.

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

TE Connectivity Dividend Announcement

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 issued a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.72%. TE Connectivity’s dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

TEL has been the topic of a number of research reports. Robert W. Baird decreased their price target on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target on the stock. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Friday. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

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.