TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Congress Asset Management Co. MA

Congress Asset Management Co. MA lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,509 shares of the electronics maker’s stock after selling 3,819 shares during the quarter. Congress Asset Management Co. MA’s holdings in TE Connectivity were worth $13,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. International Assets Investment Management LLC purchased a new stake in TE Connectivity in the 4th quarter worth approximately $10,759,000. Nordea Investment Management AB boosted its position in TE Connectivity by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after purchasing an additional 41,198 shares in the last quarter. SG Americas Securities LLC boosted its position in TE Connectivity by 518.3% in the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after purchasing an additional 130,515 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in TE Connectivity by 184.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after purchasing an additional 28,449 shares in the last quarter. Finally, Patten Group Inc. purchased a new stake in TE Connectivity in the 4th quarter worth approximately $220,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE TEL traded down $3.21 during mid-day trading on Friday, hitting $147.35. The stock had a trading volume of 2,534,276 shares, compared to its average volume of 1,264,007. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $152.79. The stock has a market capitalization of $45.12 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 2.17 and a beta of 1.35. The firm’s 50 day moving average is $146.36 and its 200 day moving average is $142.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92.

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

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 23.79%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TEL shares. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. StockNews.com started coverage on TE Connectivity in a research report on Sunday, June 9th. They set a “buy” rating on the stock. Robert W. Baird decreased their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of TE Connectivity stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

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.