TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,558 shares of the electronics maker’s stock after selling 11,077 shares during the quarter. Becker Capital Management Inc.’s holdings in TE Connectivity were worth $16,378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TEL. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its stake in TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new stake in TE Connectivity in the fourth quarter valued at $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the fourth quarter valued at about $44,000. Finally, Hilltop National Bank acquired a new position in TE Connectivity during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group restated a “buy” rating and set a $163.00 price target (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Thursday, April 24th. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Citigroup decreased their target price on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.50.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $145.34 on Wednesday. The firm has a market cap of $43.36 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The business’s 50 day moving average price is $141.02 and its two-hundred day moving average price is $146.04. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 earnings per share. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 62.42%.

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.