TE Connectivity Ltd. $TEL Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 24.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 392,301 shares of the electronics maker’s stock after selling 130,005 shares during the period. Russell Investments Group Ltd.’s holdings in TE Connectivity were worth $82,898,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in TE Connectivity by 5.7% in the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after acquiring an additional 730,084 shares in the last quarter. Wellington Management Group LLP raised its position in TE Connectivity by 48.2% during the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after purchasing an additional 2,507,569 shares in the last quarter. Baird Financial Group Inc. raised its position in TE Connectivity by 3.5% during the second quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock valued at $652,796,000 after purchasing an additional 109,020 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in TE Connectivity by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock worth $618,121,000 after purchasing an additional 118,284 shares during the last quarter. Finally, Amundi lifted its stake in TE Connectivity by 37.2% during the first quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock worth $471,733,000 after purchasing an additional 612,180 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Down 0.7%

Shares of TEL stock traded down $1.60 on Friday, hitting $216.22. 1,350,112 shares of the company’s stock traded hands, compared to its average volume of 2,151,961. The stock has a market capitalization of $61.99 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.36 and a beta of 1.15. The company’s fifty day simple moving average is $213.45 and its 200 day simple moving average is $212.28. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.07. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that TE Connectivity Ltd. will post 13.52 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.4%. TE Connectivity’s dividend payout ratio is currently 28.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TEL shares. Jefferies Financial Group cut their price objective on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Sanford C. Bernstein began coverage on TE Connectivity in a report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price objective on the stock. Wall Street Zen downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Citigroup boosted their target price on TE Connectivity from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Fox Advisors lowered TE Connectivity from an “overweight” rating to an “equal weight” rating in a research note on Monday, November 2nd. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $255.50.

About TE Connectivity

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems. The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.