Hexavest Inc. Sells 28,155 Shares of TE Connectivity Ltd. (NYSE:TEL)


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Hexavest Inc. cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,463 shares of the electronics maker’s stock after selling 28,155 shares during the quarter. Hexavest Inc.’s holdings in TE Connectivity were worth $16,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TEL. Childress Capital Advisors LLC bought a new stake in TE Connectivity in the fourth quarter worth $27,000. Jackson Grant Investment Advisers Inc. purchased a new stake in TE Connectivity in the fourth quarter worth $30,000. Perigon Wealth Management LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at $31,000. JJJ Advisors Inc. increased its stake in shares of TE Connectivity by 527.3% during the fourth quarter. JJJ Advisors Inc. now owns 276 shares of the electronics maker’s stock valued at $33,000 after buying an additional 232 shares during the period. Finally, Brand Asset Management Group Inc. increased its stake in shares of TE Connectivity by 99.5% during the fourth quarter. Brand Asset Management Group Inc. now owns 375 shares of the electronics maker’s stock valued at $45,000 after buying an additional 187 shares during the period. Institutional investors own 91.35% of the company’s stock.

TE Connectivity stock opened at $131.54 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.37. TE Connectivity Ltd. has a 52 week low of $62.88 and a 52 week high of $136.01. The company has a market capitalization of $43.53 billion, a price-to-earnings ratio of -182.69, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. The stock has a 50-day moving average price of $130.09 and a 200 day moving average price of $118.74.

TE Connectivity (NYSE:TEL) last released its earnings results on Tuesday, January 26th. The electronics maker reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.18. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.26 billion. TE Connectivity had a positive return on equity of 14.86% and a negative net margin of 1.98%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Research analysts anticipate that TE Connectivity Ltd. will post 5.3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 4th. Investors of record on Friday, February 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, February 17th. TE Connectivity’s dividend payout ratio is currently 45.07%.

In other news, Director Terrence R. Curtin sold 70,250 shares of the business’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $127.75, for a total value of $8,974,437.50. Following the completion of the sale, the director now directly owns 125,219 shares in the company, valued at $15,996,727.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tim Murphy sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $122.19, for a total value of $610,950.00. Following the completion of the sale, the senior vice president now owns 14,741 shares of the company’s stock, valued at $1,801,202.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,295 shares of company stock valued at $32,465,536. 0.80% of the stock is owned by company insiders.

Several equities analysts have recently commented on TEL shares. UBS Group raised their price target on TE Connectivity from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, January 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $156.00 price objective on shares of TE Connectivity in a research report on Monday, March 8th. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $123.00 price objective on the stock. in a research report on Tuesday, December 15th. Cowen raised their price objective on TE Connectivity from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, February 2nd. Finally, Morgan Stanley raised their price objective on TE Connectivity from $121.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, January 28th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $115.92.

TE Connectivity Company Profile

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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