TE Connectivity Ltd. $TEL Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 34,004 shares of the electronics maker’s stock after selling 687 shares during the period. Mutual of America Capital Management LLC’s holdings in TE Connectivity were worth $5,735,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Foster & Motley Inc. lifted its stake in shares of TE Connectivity by 34.5% during the 2nd quarter. Foster & Motley Inc. now owns 32,061 shares of the electronics maker’s stock worth $5,408,000 after purchasing an additional 8,216 shares during the period. Private Trust Co. NA lifted its stake in shares of TE Connectivity by 21.9% during the 2nd quarter. Private Trust Co. NA now owns 1,376 shares of the electronics maker’s stock worth $232,000 after purchasing an additional 247 shares during the period. Nordea Investment Management AB lifted its stake in shares of TE Connectivity by 54.4% during the 2nd quarter. Nordea Investment Management AB now owns 1,605,782 shares of the electronics maker’s stock worth $269,723,000 after purchasing an additional 565,857 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of TE Connectivity during the 2nd quarter worth $50,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of TE Connectivity during the 2nd quarter worth $25,913,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.1%

Shares of TEL opened at $228.39 on Wednesday. The stock’s fifty day simple moving average is $213.47 and its 200 day simple moving average is $181.42. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $234.50. The firm has a market capitalization of $67.48 billion, a P/E ratio of 47.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company posted $1.91 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on TEL shares. Wells Fargo & Company increased their price target on TE Connectivity from $198.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Barclays started coverage on TE Connectivity in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $249.00 target price on the stock. Bank of America increased their target price on TE Connectivity from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. KGI Securities raised TE Connectivity to a “hold” rating in a research report on Thursday, July 24th. Finally, Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, SVP Malavika Sagar sold 1,945 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the transaction, the senior vice president directly owned 4,716 shares of the company’s stock, valued at $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 23,850 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total value of $4,841,311.50. Following the completion of the transaction, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. This trade represents a 47.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,645 shares of company stock valued at $14,842,096 over the last three months. 0.90% of the stock is owned by company insiders.

TE Connectivity 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.